🚨 NEW: Cameron and I are super happy to be launching the Traction Lab Venture School, a new program to help founders of early-stage startups find paying customers. Kicks off March 23rd. Only 20 spots. You in?

Hey friends 👋

It’s almost a cliché. Some VC tells you to “go bigger” on your fundraise, another investor says to keep it small, and you’re stuck in the middle.

So in this episode, we tackle one of the most confusing decisions founders face: how much money should you actually raise? We break down the false dichotomy of “go big or go home” and why ego has no place in fundraising decisions.

We dive into three realistic scenarios where founders are wrestling with round size—from a bootstrapped SaaS founder being pushed toward a $2M round when they only need $500K, to a profitable fintech debating whether to raise at all, to an AI startup running out of runway with thin traction.

The key insight? It’s all about capital efficiency and what you’re actually buying with that money. In early stages, you’re buying learning, not growth—and 10x the money doesn’t mean 10x the learning.

Our hot take: raising too much too early can actually screw you over when it comes time for your next round. We also get into why you need to understand investor business models—their “right size” round might not match your stage at all.

In our Frivolous Thoughts segment: JDM battles his display link monitor (send help), and Cameron updates us on the Kings’ ambitious 16-game losing streak. Yes, he said ambitious. 😅

—Cameron and JDM

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit zerototraction.substack.com