The flush availability of other people’s money is simply too tempting. When you’re not spending your own money, it’s easy to splash on a big open office on day one, a staff of 10+ in no time, and have few worries about paying the bills on the 1st of the month. It takes away much of the urgency to make money that I think is critical to build sustainable businesses. It gives you too many resources to be satisfied building simple tools for niche markets. Everything becomes about catching that huge wave.
