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@stefan just a quibble, but venture funding is structurally a different financial vehicle than debt. they can sometimes function similarly, but it's incorrect at a technical level to equate them. (One key reason that it matters: it's generally illegal in most jurisdictions to have a debt that requires a return above ~1.3x, which would be abject failure for VC.)

@anildash @stefan Given that VC funding wants higher returns than what's possible with debt, doesn't that make it worse?