Due to the increased difficulty of attaining certain milestones, there has been the gradual increase and acceptance of more than one funding event occurring at Seed; ie Seed 2, Bridge, Post Seed. All before an actual Series A event.
Not disputing that VC's (and others) should do more to highlight the difficulty, the slim chances, the demanding road both professionally and personally, that maximised exit valuation need not mean profit-making, nor revenue-generating, need not even mean sustainable if not propped up, nor some other things which would make my response off-topic.
Not disputing that VC's (and others) should do more to highlight the difficulty, the slim chances, the demanding road both professionally and personally, that maximised exit valuation need not mean profit-making, nor revenue-generating, need not even mean sustainable if not propped up, nor some other things which would make my response off-topic.