Numbers

September 20, 2025

Here's a list of numbers that help me calibrate my sense of scale.

Startups and investing

  • YC standard deal. $500,000 for 10-15%.
    • $125,000 converted to fixed 7%.
    • $375,000 invested as an uncapped MFN safe.
  • In 2009, a typical angel round consisted of $150,000 raised from 5 people together as a syndicate.1
    • Valuations range from $0.5-4 million.
Funding roundSaaSHardwareBiotech
Pre-seed$0.25-1M$0.5-2M$0.5-2M
Seed$2-4M$3-6M$3-7M
Series A$10-12M$15-30M$15-50M;
Dispatch Bio, $216M
Series B$20-35M$25-50M$30-70M
Series C$40-80M$60-120M$50-150M
IPO$100-300M$150-400M$50-200M

Energy

  • The US consumes 24 PWh of primary energy per year.2

Footnotes

  1. https://www.paulgraham.com/angelinvesting.html

  2. https://www.elidourado.com/p/move-the-needle-on-progress