"The VC funding model is terrible for most open source projects. With a few exceptions, you end up with an acquisition that ends or repurposes the project, or an Open Core project. And a VC-funded Open Core project will end up trying as hard as it can to have everyone need to buy the paid version, since that's clearly the way to optimize revenue and eventually the slippery slope will get you there. I don't blame folks for taking VC; it was easy to get, and there aren't a lot of alternative funding models that can pay the multiple fulltime staff that might be required to create what one wants to create.

I don't think VC funding as it currently exists is consistent with running an open source company according to my values, which is why we're not taking venture funding for Zulip. Obviously, being scrappy, applying for NSF grants, and spending my own money have very real downsides both personally and for our growth, especially when every competitor has VC funding, but it also means that I can ensure Zulip continues existing as a real open source project for the long run."