VCs want either no-revenue stories or $100M+ ARR, and great startups fall through
alvelda · x · 2026-11-02
Investor Harry Stebbings argues the venture market is "more broken than ever": VCs either fund a compelling story with no revenue in a hot market (nothing for the HBS grad to scrutinize) or pile into obvious $100M+ ARR winners — and many great companies fall through the cracks in between. He calls for a generation of true artisan "pickers."
alvelda adds: revenue shouldn't be a dirty word. AI-native companies can sell from week one — build so the customers tell the story.
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