📝 Customers understand before investors do Update on my 2023 essay of the same name Most founders are better off getting a product into customers' hands instead of going straight into a fundraise. The reason: customers understand before the investors do, and often most investors will never understand. In the past, I've described two types of fundraising strategies: Sell the Dream Sell the Traction Selling the dream means you do not have a product in the market. Selling the traction means you…