The GitHub founders likely did quite well. They were completely bootstrapped until they took a $100M Series A from a16z in 2012 (5 years after founding), and then took a $250M Series B valuing them at $2B from a16z, Sequoia, etc. in 2015. Figure that they gave up 12.5% in the Series B and 30% in the Series A with a 1x liquidation preference, and that they sold for $4-5B to Microsoft (it's unlikely the VCs would allow a sale that didn't at least double valuation since 2015). The three founders then split ~60% of the roughly $5B, for a cool billion dollars each.
Millions of developers are shooting for the moon, while of course only few succeed, but VCs are laughing all the way to the bank because they spread their risks.
> Sure. It motivates millions of young developers to try to become kings.
... so VCs can profit.
The GitHub founders likely did quite well. They were completely bootstrapped until they took a $100M Series A from a16z in 2012 (5 years after founding), and then took a $250M Series B valuing them at $2B from a16z, Sequoia, etc. in 2015. Figure that they gave up 12.5% in the Series B and 30% in the Series A with a 1x liquidation preference, and that they sold for $4-5B to Microsoft (it's unlikely the VCs would allow a sale that didn't at least double valuation since 2015). The three founders then split ~60% of the roughly $5B, for a cool billion dollars each.
So? The point is that millions of people are trying to create things who otherwise wouldn't.
Millions of developers are shooting for the moon, while of course only few succeed, but VCs are laughing all the way to the bank because they spread their risks.
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