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I would disagree. Yes, this way you get "easy money", but what you actually want is "smart money". It's like with building your unfair advantage. It shouldn't b
by erikb 10y ago
I would disagree. Yes, this way you get "easy money", but what you actually want is "smart money". It's like with building your unfair advantage. It shouldn't be too easy, otherwise it won't have the required value.
- someear 10y agoI think Michael Seibel says it himself somewhere else - yes you do want smart money. But the reality for 95% of the time you just need money. The founders make or break the company, and optimizing for just the best investors is optimizing for the 5%. The other reality is that majority of startups will fail to raise money. So unless you're truly hot s*, raise from anyone including so-called "dumb money" as long as they dont add negative value by pestering you or doing something similar. Startups die cuz they can't raise or run out of money. Usually a symptom of something else, but don't die cuz you only chased smart money.
- erikb 10y agoI would assume that if you need money you don't want to take it. Starting a company is also investing, but something more than money: your health, your time, your personal relationships. I wouldn't do that if the money I need wouldn't come to me easily enough. Really, if you can't focus on finding the smart money, better have a main job and treat the business as your side project, at least for now.