Should startups do crowdfunding? No.

You can’t be a high-growth startup and raise money via crowdfunding.

High-growth startups rely on one of two things: significant profit through product-market fit or venture capital (VC) funding. If your product isn’t generating enough revenue, you’ll need VC money to scale.

If VCs aren’t investing, it usually means you lack the traction, the storytelling, and the community to raise significant funds through crowdfunding. Even in today’s post-ZIRP market, there’s still plenty of VC money waiting to be deployed.

There are exceptions, but they’re rare—and often involve celebrity backing. Unless your name is Serena Williams, you’re not an outlier.

Yes, you can crowdfund and still build a successful company, but not a high-growth, venture-scale startup.