This isn't correct at least from my personal experience. I've talked with a few startups that have been burning through cash because they thought they could ou

This isn't correct at least from my personal experience. I've talked with a few startups that have been burning through cash because they thought they could outsource their entire technical operation to India. Some of them even tried doing it a 2nd time after failing the first time. All of them were on the verge of collapse. I think there are even more of them that never even get to the VC stage because they often times don't have any demo to show.