What is more important, the product or supporting activities? Here is a good analogy. Have you seen the “Blood Diamond” with DiCaprio? Now, what this stone was worth in hands of the guy who found it in Sierra Leone? $1 or $10? Guess no more. What was it worth in hands of DiCaprio’s character? Thousands? Right. However, what is it worth in hands of a white-collar guy from De Beers? Moreover, what is it worth in a shop on Rodeo Drive? Same stone.
Think of your startup as of this stone. Think of VC rounds as of this path from Sierra Leone to California. What about a product? Yes, most certainly we all say it should be perfect. I mean, after all, it has to be a diamond, not granite. However, even diamond’s price varies from $10 to millions.