In the last 2-3 years, it certainly seems to now equal “success”.
Founders at least are offloading so much equity in every round that every raise essentially becomes an “exit”.
I’m very surprised by this change. When I first started in this world, it wad drilled into my head that founder equity must be controlled at all costs. But now, the prevailing wisdom seems to be to sell off as much as you can with every round.
Basically we are at the Ponzi finance stage and approaching a Minsky moment. By participating in this destructive greed driven financial system, nothing new is created, the world isn't any better.
It will take some time but there's a side of this coin that nobody with money likes to talk about, its the slow realization that your material attainment creates a cycle of apathy and that you have an impact on the world that you've squandered ultimately in the vain chase of exuberance. You try to get over this feeling of emptiness by doing a variety of things but because you are so comfortable you can't find a way to undo it. Many fall into addictions, sex, drugs, purchases but its fleeting and you hit a wall. With all the money and comforts in the world an outsider would be puzzled but this is the burden of haves. While it isn't quite the same as have nots, its of the same pedigree.
Everybody chases what everybody else is chasing without realizing what it is they are chasing. This is the type of conversations we avoid. We don't stop, pause, and collective question what we do is correct. No there's no trickle down effect either. It's the other way around and I've seen many successful people destroy their lives once they let wealth get to their heads.
Founders at least are offloading so much equity in every round that every raise essentially becomes an “exit”.
I’m very surprised by this change. When I first started in this world, it wad drilled into my head that founder equity must be controlled at all costs. But now, the prevailing wisdom seems to be to sell off as much as you can with every round.