Taking venture capital for your startup is not a light decision.
Sure, sometimes on social networks it feels like the only way to build a business. But it isn't - and shouldn't be the default path for most.
Lots of reasons why, but one of the biggest is the cost in time. Years and decades, not months.
The median Series D company that raised in 2025 was about 8 years old. They may still be 2, 3, 5 years away from an IPO or exit.
So founders, you need to be certain you'd like to commit a decade of your life to building this business because that's close to the minimum these days. And unfortunately that cost in time applies to many, many companies that will end up failing along the way, not just the winners.
We need more founders - but we should also be honest about the sacrifice starting up imposes on those that try.
Which is why we respect them all the more!
Onwards.
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Cheers,
Peter Walker
Carta Insights
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