I agree. The "story" VCs care about the most is: do other VCs want to invest in this?
That's the narrative people who raise large rounds are spinning. It has nothing to do with the tech, product... only how desirable it is to other VCs. The only way you craft that narrative is to be close to many VCs and pitch them all at the same time to create FOMO. Only those with strong existing connections make this happen.
Yes, if you built something that millions of people use the VCs will take a bet on your sure thing. That's super rare though. Most funding is going to their friends as it always has.
That's the narrative people who raise large rounds are spinning. It has nothing to do with the tech, product... only how desirable it is to other VCs. The only way you craft that narrative is to be close to many VCs and pitch them all at the same time to create FOMO. Only those with strong existing connections make this happen.
Yes, if you built something that millions of people use the VCs will take a bet on your sure thing. That's super rare though. Most funding is going to their friends as it always has.