>With the cost of rolling out an MVP (minimum viable product) lowering every year, many startups think you need a prototype in order to raise a seed round.

I might argue that it’s the opposite. We hit peak MVP, there is too much competition, all the Low hanging fruit is gone, and we’re going to have to go back to the days where we raised seed capital off of a business plan because you can build much in today’s market as an MVP. The app days are gone.