I agree with the generalization - the odds are higher that a first-time, somewhat-poor founder will be tempted by a 7-figure exit that doesn't help the VC, than

I agree with the generalization - the odds are higher that a first-time, somewhat-poor founder will be tempted by a 7-figure exit that doesn't help the VC, than someone with 5M in the bank. On the other hand, I think start-up founders are, as a group, more risk-tolerant than almost any white collar worker in America, and there are plenty of us who will never give up on a good company as long as it's growing. As for me, I've never wanted the money to play with, I just wanted into the bigger game. Give me 5M, and I'm just going to put it back into play. I want to make spaceships and robot cars and other wonders I can't afford to try right now.