Carbon dots (CDots) are classically synthesized by organic functionalization of pre‐existing small carbon nanoparticles, but most of the dot samples reported in the literature are prepared by thermal carbonization processing of selected organic precursors. Highlighted and discussed in this article are the necessity of using proper thermal processing conditions for the carbonization produced samples to be CDots like, the similarities and differences in sample structure and morphology between the two kinds of dot samples, and their associated property and mechanistic consequences.