Seventeen years of PitchBook data. An 86% deal count collapse. And the question nobody is asking. Here's a number that should stop you mid-scroll: 6%. That's the share of US venture capital deals going to startups founded exclusively by women in 2025. Not in 1995. Not in some other era. Right now, in 2026, after seventeen years of awareness campaigns, pledge drives, and "we're committed to diversity" slides at every LP meeting. Six percent. And that number has barely move

They Raised $125M for a Notepad. Here’s Why That’s Not the Story. Granola just became a $1.5B unicorn on the back of meetings - the most boring, universal, chronically broken experience in modern work. But if you think this is about note-taking, you’ve already missed what the smartest money in venture capital is actually betting on. $1.5B SERIES C VALUATION March 25, 2026 6× VALUATION STEP-UP In under 10 months ~$192M TOTAL CAPITAL RAISED Seed → Series C ~2 yrs SEED TO UNICOR

Most founders can recite a CAC and an LTV. Few can tell you whether the cost structure underneath those numbers is correctly classified and that gap is exactly where pitch meetings are lost and capital decisions go wrong. This article builds unit economics from the ground up: every cost type defined with precision, every formula derived with its assumptions stated, the difference between how product and services companies are evaluated, how VCs actually interrogate these metr

Net Income versus Cash Flow In financial reporting, net income commands attention. It anchors headlines, drives valuation multiples, and often shapes investor sentiment. But profits, standing alone, are an incomplete measure of corporate health. If earnings are the narrative, cash flows are the evidence. Earnings quality, at its core, asks a simple question: Do reported profits convert into cash with high probability? When net income and cash flows move together, financial p