While many businesses require a lot less capital to start, they don’t require less capital to grow. If you don’t have runway, you simply won’t find out if you have a winning business or not. Usually, an early stage deal has to reinvent itself multiple times. You could and should stay small until you do that. Cash and a low burn give you the luxury of time to find your path to success. Once you’ve hit a mature burn, if you have shaky capital backing, it will be impossible or very difficult to focus on that opportunity and get a successful exit. I’ve seen companies with great potentially just tank if even one of their venture investors is unstable. Lower costs of starting/running a business means that you don’t need as much cash to find your way in the wilderness but for most startups, you still need strong/confident investors supporting you.