There's a fundamental difference between how capital-intensive startups and capital-efficient ones approach fundraising. When an asset-heavy business lands a massive funding round, they're essentially betting the entire capital pool into infrastructure, hardware, or operational overhead—burn rate follows the burn. But when a lean, capital-efficient operation scores similar cheques, that's pure fuel for growth. Same dollar amount, completely different runway trajectory. One's racing against time, the other's got breathing room. The crypto space sees both models constantly, and knowing which one you're backing makes all the difference.