From my point of view as a venture capitalist, I have realized that many startups share a common struggle: how to determine valuation. There are plenty of articles on how to value your specific startup and the different methodologies behind it, but what many of them neglect to recognize is that for most early-stage (pre-seed) startups, valuation is most likely determined by the surrounding market, or by the investor themselves (hence the abundant use of convertible notes).