Indiegogo's co-founder explains that the concept of "runway" doesn't apply to a bootstrapped startup living on savings. Instead of a dwindling cash reserve, the limit is the founders' personal willingness to continue investing their own time and money.

Indiegogo's founders intentionally declined early investment offers, planning to use initial traction to secure a better valuation. This high-risk strategy backfired when the 2008 financial crisis hit, demonstrating how market timing can upend even a sound fundraising plan.

While facing constant rejection from VCs, co-founder Slava Rubin used TweetDeck to monitor organic user conversations. Hearing strangers discuss how Indiegogo was positively impacting their plans provided crucial validation and the motivation to ignore investors and focus on customers.

Indiegogo intentionally launched by focusing only on the film industry, using it as a beachhead market to prove their model, similar to how Amazon started with books. This niche focus was a strategic choice before expanding to all categories, which ultimately unlocked massive growth.

The founders leveraged their connection to Berkeley's business school as an institutional resource. This provided a no-cost environment for research, development, and testing, allowing them to vet and refine the business concept before launching.

Faberge's networking company didn't start with a business plan but from her own experience with unemployment. Her initial goal was to address the "hidden job market" by building bridges between senior and junior professionals, a personal vocation that became a business concept.

The funding gap isn't just about discrimination. Women, on average, are more risk-averse and often build passion-led businesses that don't fit the hyper-growth VC model. They favor bootstrapping and debt, leading to higher survival rates but fewer billion-dollar 'unicorns,' reframing the definition of entrepreneurial success.