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Ring the freaking cash register  

Mark Suster, making a point I've made a few times, but explained from his point of view as a VC:

If you are a super young, well-connected, Stanford CS or EE, worked at Facebook early, have a bit o' dosh and have VCs chasing you … you are exempt. Or anybody who remotely resembles you.

Why? Because at least while the VC spigot is open and flowing for high-potential individuals that fit a pattern that some VCs seem to favor they can access cheap capital that isn't terribly dilutive and can use the to fund development and swing for the fences with limited focus on monetization.

Ok. That leaves 99.99% of you.

Mark also addresses the perverse incentives of the VC vs founders:

They are not rooting for you to fail - please don't misunderstand me on that. They would prefer you always move up-and-to-the-right. I'm just saying that great progress with no revenue and you needing more money isn't always at odds with a VC's interest. Sorry to give away the game.

Refreshing honesty. Play the VC game if you feel that's right for your business, but do so knowingly, and aware of the incentives at play there.

More from the library:
Strategic investments in early startups
Details of a company sale
Venture capital basics