What kind of businesses are actually a good fit for venture capital?
VC math only works for companies that can plausibly return the whole fund on one bet, which means a huge market, a business that gets more valuable as it scales, and a path to 100x. If your ceiling is a great $5-20M profitable business, VC will actively push you toward a worse outcome. Match your funding to your ambition, not the other way round.
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The canonical, no-nonsense overview of how seed fundraising works, written by a former YC president who has seen thousands of rounds. It's the single best starting point before you talk to a single investor.
Naval's concept of 'specific knowledge', the thing that feels like play to you and work to everyone else, is the clearest definition of your personal edge and the root of founder-market fit. Use it to find the market where your unique wiring is an advantage.
The definitive book on how VC deals really work, written by two Foundry Group VCs. It demystifies the term sheet term-by-term so you negotiate from knowledge, not fear.
