Growth Strategies with Jonathan Mills Patrick

Growth Strategies with Jonathan Mills Patrick

The Sovereign Startup: Why $297B in Q1 Funding is a Warning, Not a Win

If your startup is living on "rented land," you are already in trouble

Jonathan Mills Patrick's avatar
Jonathan Mills Patrick
Apr 01, 2026
∙ Paid

*Note - short one for you today, as I’m incredibly busy and in build-mode with a new project.

The Q1 2026 funding numbers are in, and on the surface, they look like a gold rush. Venture capital activity hit a staggering $297B, a figure that suggests the “funding winter” has officially thawed.

But look closer at the math, and a much more sobering reality e…

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