How to Start a Startup
www.paulgraham.com
OCTOBER 23, 2010
During the Internet Bubble there were a number of startups founded by business people who then wentlooking for hackers to create their product for them. If you give an investor new shares equal to 5% ofthose already outstanding in return for $100,000, then youve donethe deal at a pre-money valuation of $2 million.
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