Uh, that's not "better".

If you have a huge chunk of change sitting around, you've raised too much or too early, and you've successfully diluted yourself for zero reason.

If you actually had a reason to raise a lot of money, you'd do with the money what you promised the investors (who gave you the money) you would.

I've raised before. I raised what I needed. Not a penny more because I didn't need the money.

Let’s see:

- 12 months runway - $100k/mo. burn rate - 4% APR

Gives you about $25k interest.

Seems worth it to me.

I too have raised before.

I'm not saying raising and then buying T-Bills is better than just raising less.

I'm saying if you find yourself with excess cash, you can't just un-raise. In that scenario, then short term T Bills are strictly better than cash.

>if you find yourself with excess cash, you can't just un-raise

I always thought a startup can return cash to investors as long as the payments or dispersements are proportional to the amount of stock owned.

Depends on the funding vehicle. If you're on a SAFE, and still a going concern, then I think returning investor funds would trigger a priced round and you'd end up converting at a (hopefully) high valuation