An earlier tool. Kept here for you to explore, with its original assumptions. It's no longer actively maintained.
Should You Raise VC
or Bootstrap?
Compare configurable illustrations with explicit limits.
Explore modeled distributions, dilution, and exit payouts.
outcome probabilities are not estimated
illustrative ownership example after Series C
if exit is below liquidation preference
Takes 3 minutes. No email required to start.
Most advice is useless
Because it doesn't show you the actual math
What you usually hear
- "Raise if you need money fast"
- "VC gives you credibility"
- "It depends" — with no analysis
- Ignores liquidation preferences
What this tool gives you
- Personalized to YOUR situation
- Real dilution math across rounds
- Unweighted exit cases
- Year-by-year projections
What you'll get
A complete analysis in 6 detailed sections
Clear Recommendation
Bootstrap, Hybrid, or Consider VC — based on your answers
Dilution Reality
Explore ownership under fixed funding and option-pool assumptions
Year-by-Year Comparison
Revenue, profit, and payouts for both paths over 7 years
Illustrative Exit Cases
Payouts under different exit cases; no probabilities assigned
George's Take
Personalized verdict with specific positives and concerns
Next Steps
Actionable recommendations for your specific situation
The dilution journey
A fixed ownership example, not a market average
You started with 100%. After Series C in this example, ownership is 32%.
Your results use the selected business type and configurable scenario inputs.
Who this is for
First-time founders
Trying to figure out the funding landscape
Profitable bootstrappers
Wondering if they should raise to scale faster
Pre-revenue founders
Deciding how to fund their first year
Anyone who's been told
"You need VC to build something big"
How it works
Answer 7 questions
Choose business type
Add numbers (optional)
Get your analysis
Ready to find your path?
Get your personalized VC vs Bootstrap analysis in 3 minutes.
Free forever. No credit card. No BS.
Put the result in context
A number is the beginning of the decision.
Bootstrap or raise venture capital? Start with the milestone
A framework for comparing capital needs, founder ownership, control and cash outcomes without treating a simulated exit as a forecast.
Read the guide and use the worksheet →From the field
Personal accounts behind the questions. Each essay reflects when it was written.
Why I'm Open-Sourcing My Portfolio
What active thesis investing actually looks like — and why I'll publish every bet I make.
Why this reading: Use this account to ask which outcomes a funding choice serves. An earlier portfolio decision does not establish the right terms for your company.
What I Will and Won't Do
I've watched enough people I respected turn into people I don't recognize. Not overnight. Gradually. One justified compromise at a time.
Why this reading: Read the author's boundaries while listing the control rights and obligations you are willing to accept.
Nothing Wrong With More Options
A few years ago I pitched a VC in Menlo Park. Their second-to-last question: "You're working on two companies at the same time. How does that work? Aren't…
Why this reading: Use this perspective on options to compare a smaller customer-funded milestone with the commitments of outside capital.