If it is true that...

Underestimating the amount you hope to raise sends useful signals to investors

Then it must be true that...

It will be easier to raise money at a lower valuation

If it is true that...

The most important thing to understand about valuation is that it's not that important

Then it must be true that...

It will be easier to raise money at a lower valuation

If it is true that...

The most important thing to understand about valuation is that it's not that important

and

The real test of a startup's success is revenue, not fundraising

Then it must be true that...

It will be easier to raise money at a lower valuation

If it is true that...

It will be easier to raise money at a lower valuation

Then it must be true that...

When you start fundraising, your initial valuation will be set by the deal you make with the first investor who commits