How Startup Fundraising Works | Startup School

TL;DR

Startup fundraising is a grind of many one-on-one meetings (coffee chats or Zoom calls), not a glamorous stage show; founders should build a minimal product and get initial users before raising money. Using YC's Simple Agreement for Equity (SAFE) makes raising a seed round fast, cheap, and founder-friendly—no board seats, no legal fees, and total control retained.

Key insights

• Fundraising is a grind: a typical round involves 150+ one-on-one meetings over months, with checks of varying sizes (e.g., $5k to $200k).
• The best founders build a first version of the product and get a few users before seeking funding; this gives them leverage because investors want to "jump on trains that are in motion."
• Investors do not need to be impressed; they need to be convinced by plain, simple language explaining how the startup could become huge (even a 1% chance).