Interesting article. In my eyes it needs three things to succeed:

1. A solid story

2. Solid Fundraising Process

3. Long term relationships with investors

Ad 1: 99.9% of founders don't have a VC story. Interestingly nobody tells them - except investors.

Ad 2: Starting Fundraising 2 months before cash out isn't a solid process. Interestingly 99% of startups do it exactly that way.

Ad 3: In the end it makes a huge difference to succeed when people with similar values come together. It takes time to get to know investors, their goals and values.

My advice is:

1. Create a network to investors early on, without pitching anything.

2. Learn to understand what a VC story is and what isn't a VC story. There are different types of investors.

3. When you have a matching story, kick off a process and probably after doing 1 and 2 for years already, the deal closes in 1-2 months with the lead investor and the rest falls into places quickly.