> If motivation and investment capital are negatively correlated At early stages, yes. PG has it right, small investment enough to keep motivation high = food

> If motivation and investment capital are negatively correlated At early stages, yes. PG has it right, small investment enough to keep motivation high = food. Deliver and get another round = toys. Grow your user base and get another valuation = perks. Then you are ready to sit on the big table, with your balls, your morale and your thick skin. If you give it all at once in the beginning, you lose motivation, morale, and your balls too. Early money is the machete that will castrate you and turn you into a digital eunuch.