www.paulgraham.com
OCTOBER 23, 2010
You need three things to create a successful startup: to start withgood people, to make something customers actually want, and to spendas little money as possible. The woman in charge of sales was so tenacious that I used to feelsorry for potential customers on the phone with her. Paul Erdos wasparticularly good at this.
Feld Thoughts
JULY 14, 2015
A company raises $1m of seed money from angels in a convertible note with a $6m cap. Assuming equity is raised at or above that cap, the total dilution, before the new money, is 16.6% (equivalent to an equity financing of $1m at a $6m post money valuation. ” They are running out of money.
crowdSPRING Blog
FEBRUARY 16, 2016
William Bygrave, an entrepreneurship professor at Babson College, cautioned in an article for The Wall Street Journal: What we really don’t want to do is literally spend a year or more essentially writing a business plan without knowing we have actual customers. Myth #2: You need a lot of money to start.
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