Most founders spend up to 50% of their time trying to raise money — but many pitch to the wrong investors, burning time and relationships without results. In Part 1 of this BASELINE conversation, Daniel Sawko, CEO of ShipShape VC, explains why fundraising has become theatre, why warm intros dominate venture capital access, and how early-stage startups can focus on building traction instead of chasing the wrong capital. This is a must-watch for founders who want to stop wasting time and get investor-fit right from day one.

EPISODE CHAPTERS:00:00 – Cold open: Selling a cruise ship to an ice cream van

01:40 – Why traditional fundraising is broken

09:10 – Networks, warm intros, and VC access

18:45 – The pressure to perform vs building a real business

27:30 – Fundraising as sales: marketing your equity to the wrong market

38:15 – Why founders should prioritise customers over capital