Last week Fred Wilson and I sat down in Santa Monica for an hour+ discussion with the video cameras rolling.
One of the questions we discussed was, "How much capital should a startup raise?" Fred & I are both in agreement that there is a tension between capital constraints and creativity. In his words,
[in some instances] "because lots of capital is available, the company takes on the capital and that ends up resulting in no constraints on decision making and so the company decides to do five things in stead of just one."