>We have talked before about the shifting balance of power between entrepreneurs and capital providers. I have argued that the rise of founder-friendliness in s

>We have talked before about the shifting balance of power between entrepreneurs and capital providers. I have argued that the rise of founder-friendliness in startup funding is not just an idiosyncratic matter of philosophy, but a structural matter of negotiating power: If good ideas are rare and valuable, and capital is cheap and plentiful, then people with ideas will be able to extract whatever terms they want from people with capital. This is very, very true, especially if you compare current funding terms with what was prevalent in the 80's.