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But we saved everything 🙂.
Harry Stebbings turned down a founder seeking to raise capital, stating that finishing the year at $1.5 million annual recurring revenue (ARR), with plans to reach $5 million ARR next year, is not sufficient to secure a strong Series A round in the current environment.
He added that the opportunity cost of cash remains a significant factor for investors evaluating early-stage funding opportunities.
Stebbings recently highlighted Lovable’s milestone of reaching $500 million in annual recurring revenue. He has also pointed to Elon Musk’s use of $2 billion in monthly compute from Anthropic and Google to address AI infrastructure needs. These updates reflect ongoing focus on scale and efficiency in technology and early-stage investing.