Sam... Do you think bootstrapped companies, where founders want to build a "lifestyle" business and not raise capital can compete and be successful in SF and th

Sam... Do you think bootstrapped companies, where founders want to build a "lifestyle" business and not raise capital can compete and be successful in SF and the valley? Put in another way, would there ever be a case where you'd recommend a bootstrapped company not take investment (assuming the terms were good) in the bay area?