I think a very small % of founders raise money solely for their own salaries. However, given that human capital is often the majority of costs for early stage

I think a very small % of founders raise money solely for their own salaries. However, given that human capital is often the majority of costs for early stage start-ups (especially consumer Internet) and that small teams can accomplish a lot it doesn't seem off-base for lean startups to extend their runway by raising venture capital to pay salaries for founders and early employees. In unrelated news, an associate at a VC firm makes an average salary of $194K/year. :)