You don't need every investor to say yes, just one who believes in your team and market. Skepticism about margins is normal and often wrong. If everyone thinks your idea is obvious, the market might already be solved.
You don't need everyone to like it. You just need one person to like it. And at every round, there was someone who looked at it and passed. And usually they passed because they didn't like the gross margins. They're like, oh, the gross margins are bad. I don't believe that these folks can get the gross margins to be good. Now it turns out they were wrong. The gross margins are now good. And so like, no, they probably should have invested. But it doesn't matter that they didn't invest. What matters is like there was a firm at each of these rounds that said, okay, I see what these folks are up to. I'm a believer in the team. I'm a believer in the TAM. I'm a believer in the track. I think these folks can actually do it. And you need n equals 1 of that. So just because you have a bunch of conversations where people say no, like, that's okay. And that is expected. Even the best businesses, like, probably should have skeptics. If everyone thought it was an amazing idea, that would kind of freak me out. Because again, it kind of goes back to like, why now? Like, if everyone thinks this is so good and people are willing to throw money at it, why doesn't it already exist? There's actually probably something wrong with it.
