It's essential to understand at least one market where real customers will pay for your product, and you need more funding than you initially think, especially for hardware development.

For consumer hardware startups, having a critical fundraising roadmap is essential to reach escape velocity and ensure long-term success.

None of the trillion-dollar software companies have been bootstrapped without venture capital; it's important to recognize that achieving such scale typically requires VC funding.

When we raised venture capital in 2003, it was one of the only deals that the firm had done at that time, highlighting the challenges of building hardware.

Some businesses genuinely require upfront capital to succeed, and venture capital can provide that necessary funding when other options are limited.

Most hard-tech companies will need to raise money from investors, so it's crucial to develop a smart fundraising plan that breaks down the total amount needed into smaller, achievable milestones.

We learned that finding investors who specialize in hardware was crucial, as they understood our vision and supported us.

Successful companies generate revenue from customer demand, which drives their growth, rather than relying solely on fundraising.

The decision to bootstrap or seek venture capital is crucial; most entrepreneurs do not rely on VC funding.