there's a third: start your own company I'm going play the role of semantics really quick. I like how PG differentiates between a startup and a company. What I

there's a third: start your own company I'm going play the role of semantics really quick. I like how PG differentiates between a startup and a company. What I've learned while coding, and dealing with Angels are the differences in stages...so I'll share my definitions (with dev examples) 1. Idea: just a concept, like an app 2. Project: the investment (usually time) we as entrepreneurs put in, like coding an app 3. Startup: just launched/deployed and ready to improvise as you grow, now your in the App Store and are out of beta 4. Business: your in the black, or at least have a projected growth rate of being there (u made angry birds) I see why the startup stage is the greatest risk/reward investment, because in my eyes, it's like you just turned on the engine, everyone hears the growl, but you haven't spun the wheels yet.