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Just because you want smart money doesn't mean you should refuse free money. If an angel were looking at a team that didn't take this money, they'd have to won
by wheels 16y ago
Just because you want smart money doesn't mean you should refuse free money. If an angel were looking at a team that didn't take this money, they'd have to wonder if they were competent enough to run a business.
- intended 16y agoI'd say free money is more corrosive - yes in the hands of some (some is relative) it will be useful. In the hands of others will let them walk down a bad path longer. For analogy, I'd use the resource curse. Countries which should theoretically be paradises are not, because their natural resources prop up bad economics and bad governance. As always, its an opinion. I guess a data driven answer would depend on the contra event of what these companies would have done if they weren't offered the money.
- intended 16y agoI'd say free money is more corrosive - yes in the hands of some (some is relative) it will be useful. In the hands of others will let them walk down a bad path longer. For analogy, I'd use the resource curse. Countries which should theoretically be paradises are not, because their natural resources prop up bad economics and bad governance. As always, its an opinion. I guess a data driven answer would depend on the contra event of what these companies would have done if they weren't offered the money.