Companies are becoming cheaper to start and raise funds due to advancements in legal automation and standardization, making it easier for investors to invest.

Three major changes in startup financing over the years are the structure of fundraising documents, easier access to these documents online, and a greater focus on minimizing the time spent on fundraising.

In the mid to late 2000s, more capital became available for early-stage startups, making it easier to start a company.

The availability of capital for startups has increased, leading to more companies being founded and more people trying to make a difference in the world.

The startup climate today is significantly better than in the past, with lower costs for starting a company and more investors willing to take risks.

After the recession in 2010, there was an increase in angel investors and seed funds investing smaller amounts, leading to seed rounds exceeding a million dollars for the first time.

The startup landscape is seeing a positive trend, with many new companies being formed and applications for funding increasing compared to the previous year.

Equity crowdfunding has changed significantly, allowing companies to solicit investments from strangers, but it comes with many regulations and is still in a testing phase.

The future of early-stage fundraising will likely continue to focus on liquidity, with tokens providing instant liquidity compared to traditional equity investments. The trend towards faster liquidity in startup investments is accompanied by an increase in secondary trading and more equity secondaries being executed in startups.