It's crucial to understand that raising venture capital is a business transaction, not a personal one; investors expect a return on their investment based on the potential for profit.

Investors often don't know anything, and their feedback can be subjective; it's important to find the right investors who are open-minded.

Smart founders recognize that investors have their own goals and incentives, and they should consider these when evaluating investment pitches instead of accepting them blindly.

Investors often have different incentives than founders, which can lead to misalignment in priorities.

The venture capital model is changing, and understanding the interests of limited partners and the companies being built is crucial.

Angels are typically wealthy individuals investing their own money, while VCs invest other people's money and have a different decision-making process.

Angel investors often have experience in high-growth startups and can provide flexible terms and quick investment decisions, but they take equity and may have strong opinions about the business.

The difference between pitching to customers and pitching to investors is significant; customers understand the problem you're solving, while investors may not have that same understanding and are primarily interested in the potential for building a large company.

Choosing investors based on shared vision is crucial, as it can be challenging to change that decision later on.