Actually, for most people, the bank giving them a mortgage is deemed a success. It means that the bank believes that you, as a person, are responsible enough to pay back a massive loan. It is a huge personal validation for a lot of people.

In the same way, obtaining VC means that a fund believes that your team and your idea are strong enough to return on their investment, and anyone who isn't pissing their pants with joy about receiving an offer, even if they're not going to accept it, has a seriously deficiency in their Oh Shit Is This Really Happening receptors.

>"and anyone who isn't pissing their pants with joy about receiving an offer, even if they're not going to accept it, has a seriously deficiency in their Oh Shit Is This Really Happening receptors."

Of course you piss your pants with joy. But its more of a, "no matter what happens we're going to be okay" thing. There are many examples of that investment vaporizing, either in the startup stage or when they unleash the business on the public. It's happening with Zynga as we speak.

So, I can understand being happy about it, but calling it a business "success" is a stretch.

> When your bank gives you a mortgage, do you deem that a "success"?

Whithout a doubt! No one is saying it's an end game! It's a milestone on the road to large scale success.

Enron and Worldcom were wildly profitable. Is that your point?

Your sentiment is exactly what I'm talking about. If you're going to follow startups or have an interest in business-building, at least learn the basics that funding is necessary and raising it is an accomplishment.