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Your logic is flawed. If money is cheap and freely flowing, which it is, why would an entrepreneur pay a premium to an investor in the form of more equity for

Your logic is flawed. If money is cheap and freely flowing, which it is, why would an entrepreneur pay a premium to an investor in the form of more equity for less cash, board seats, more restrictive founder vesting and/or significant liquidation preferences in exchange for supposed "value adds" like advice? Entrepreneurs raising capital should take advantage of the extraordinary environment we are in to raise as much money as is practical on the most favorable terms possible. Period.

gojomo 13y ago
...and then earn/buy the advice elsewhere. See also Naval Ravikant's view of the once-upon-a-time VC-package of "advice, control, and money" becoming progressively unbundled... http://startupboy.com/2010/12/01/the-unbundling-of-the-venture-capital-industry/ http://startupboy.com/2010/12/01/the-unbundling-of-the-ventu... ...which has only accelerated (including by Naval's own initiatives) in the 3 years since that post.