I used to be a VC. Now I've found a better way to build a company

"Apple is believed to have raised less than $1 million before its IPO. Amazon raised about $8 million. Microsoft raised about $1 million. Google raised $25 million. Add it all up, and it's less than $35 million in total VC funding, leading to companies worth around $14 trillion today."

"Before billion-dollar VC rounds became common, there was a way of building companies that was capital efficient. I was there when it all changed, and I, too, came to believe that a growing company needed a massive VC war chest to succeed."

"The rise of 'get big fast' began when I was recruited to Kleiner Perkins by John Doerr in 1997. I got very caught up in this world of venture capital and the get-big-fast model."

"As an entrepreneur trying to build something, the expectation for me was that the company would be woefully underfunded if it didn't grow rapidly, which often led to unsustainable practices."

Four of the world's most valuable companies, Apple, Amazon, Microsoft, and Google, raised less than $35 million in total VC funding, which is relatively small by today's standards. This capital-efficient approach contrasts with the current trend of needing massive VC investments to succeed. The shift towards a 'get big fast' mentality began in the late 1990s, influenced by venture capitalists like John Doerr. The author reflects on the drawbacks of this model, particularly from their experience running a company, highlighting the pressure to grow rapidly.

Read at Fast Company