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Founders are doing the dilution math and deciding VC isn't worth it

Startups July 19, 2026 08:33 PM
Founders are doing the dilution math and deciding VC isn't worth it

Founders are doing the dilution math and deciding VC isn't worth it

A cap table example circulating among indie hackers shows how four VC-backed cofounders can net just $1.25 million each from a $100 million exit after dilution and taxes. Carta's 2026 data confirms the broader trend, and Base44's $80 million bootstrapped sale to Wix shows the alternative.