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How to Start a Startup

www.paulgraham.com

If you work your way down the Forbes 400 making an x next to the name of each person with an MBA, youll learn something importantabout business school. Because so little money is involved, raising seedcapital is comparatively easy-- at least in the sense of getting aquick yes or no. This is calledseed capital.

Startup 105
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From Nothing To Something. How To Get There.

techcrunch.com

You used to be able to raise venture money based on an idea and a team, but those days are long gone unless your name is Ev Williams or something similar. It’s not that VCs can’t make money by investing in ideas; it’s that it’s so much more efficient to invest in companies with traction.