Default Alive

funding

Quick Definition

A startup status coined by Paul Graham: a company that will reach profitability with current cash and current growth rate, before running out of money. The opposite of "default dead."

Detailed Explanation

A default-alive startup does not need to raise to survive. Compute constantly: at current burn and current growth, will I become profitable before runway runs out? In 2026, VCs heavily favor default-alive companies.

Formula

Default Alive: Months to profitability < Runway months remaining

Real-World Examples

Calendly

Default alive from year 2 — never raised from desperation

Most YC startups

Paul Graham regularly asks founders this question at office hours

Why It Matters for Your Startup

Default alive means you have leverage. Default dead means investors set your terms.

Common Mistakes

  • Optimistic growth assumptions
  • Forgetting one-time costs
  • Not stress-testing for 30% revenue dip

Frequently Asked Questions

How do I know if I am default alive?

Cash, monthly net burn, MRR growth rate. If MRR growth × gross margin reaches monthly burn before cash runs out, you are default alive.

Should default-alive startups still fundraise?

Yes — but only on great terms. Default alive means you can walk from any term sheet.

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