How to Start a Startup
www.paulgraham.com
OCTOBER 23, 2010
The market price is less than the inconvenience of signing an NDA. They get the same kind of stock and get diluted the same amount in futurerounds. So the deals take longer, dilute you more, and imposemore onerous conditions. That shows how much a mere idea is worth. Usually angels are financially equivalent to founders.
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