“ Actually if you have a thousand people going out launching shit, for 100k or 200k, the one that can raise 5 million and deploy that effectively has a huge competitive advantage. ”
“ Some entrepreneurs are able to use only their own money and get much richer than if they share the equity upside while at the same time reducing their own risk of loss. But most entrepreneurs who use only their own money end up sitting around broke, reading books about entrepreneurs who understand how to create companies at least partially with other people’s money. ”
“ With VCs, if you want money, ask for advice — and vice versa. When they offer money, make sure you get advice. When they go out of their way to offer advice, watch your wallet. ”
“ Taking money from someone else kills more start-ups than anything else does. Do everything you can to avoid taking money. If you must, your best prospects are potential customers. You have something they want, so if they invest in you, it can be a win-win situation. ”
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