Empathy AI founder Ángel Maldonado Elvira shares why she turned down venture capital offers, urging founders to resist the pressure to chase oversized funding rounds. While global VC investment hit $671bn in 2021 and rebounded to $500bn in 2023, Elvira critiques the industry’s obsession with explosive growth, calling out the flawed ‘blitzscale or die’ mentality that prioritizes rapid scaling over sustainable value. She highlights how AI startups like Legora and Lovable dominate headlines, yet most face a grim reality: fewer exits and a largely closed IPO market.