I feel that it's no longer a merit based but short term pump and dump in which private equity is traded but not without surrendering your control as the founder and that you are now on the dole on a community of investors that trade shares for pennies and have every legitimate reason to dump it to unsuspecting public market to reap profits.
Advices like #1, In 2018, honestly irrelevant, and increasingly sounding like the new telemarketer. For instance, I repeatedly get calls or emails from a variety of SaaS founders or other developers who started their product that I've grown to detune and avoid them.
The big marketing fields are prohibitively expensive so those with the pocket can bid up and essentially deny competitors access to the same consumers.
Trying to sell something that doesn't exist can be done, but not without compromises with unclear results. Why? The power dynamic is asymmetric due to the sheer capital and a hound of top tier lawyers ready to sink their teeth into your startup.
Meaning, they can even sign a memo or an agreement to express interest and then pull out. What the fuck are you gonna do, sue a Fortune 1000 company?