Funded on Paper, Out of Cash in Practice: Why Founders Misread Their Own Financing Signals
A startup can have a fresh round in the bank, a friendly banker on speed dial, and a pitch deck that drew nods around the table — and still run out of money. Not because the idea was wrong, but because the founder mistimed the next source of cash, and read each financing win as proof the business had arrived. It almost never is. Money is a signal, not a verdict.