I know this is probably covered in day-to-day conversations with founders at YC, and this email is about raising funds... but, I&#x27;m astounded there is not a single word in here about building a business to be profitable, or to &quot;polish up the business plan&quot; ready for investors to review.<p>Or put another way - with all the issues documented (and probably over-blown) in the media regarding the current fund raising climate, is it truly good advice to just give a suggestion to &quot;3) You should raise enough money to get to your next significant milestone.&quot;.<p>Surely developing the business case and reaching profitability should rate a mention somewhere when it comes to giving out fund raising advice, particularly when this is being released publicly for budding entrepreneurs not part of YC? And even more importantly because investors will be motivated to use this current climate as an excuse to negotiate harder than usual and get more stock for less money?