Paul Graham (Co-Founder & Partner at Y Combinator)
How to Raise Money
There are now sites like AngelList, FundersClub, and WeFunder that can introduce you to investors. We recommend startups treat them as auxiliary sources of money. Raise money first from leads you get yourself. Those will on average be better investors. Plus you’ll have an easier time raising money on these sites once you can say you’ve already raised some from well-known investors.
Sam Altman (President at Y Combinator)
The separation of advice and money – Sam Altman
On the positive side, founders may end up with less total dilution and get to choose whatever advisors they want [with funding platforms]. On the negative side, advisors probably wont work quite as hard for a company that they don’t have a lot of capital invested in.
Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Decoupling Advisory From Custody – AVC
I think the idea of a 10 year fund where the VCs have custody of the LPs’ capital and make all the decisions is not going to be the norm. Companies like our portfolio company CircleUp and AngelList are building important new platforms and paving the way with regulators to allow the same kind of thing that is happening in the stock market to happen in the venture capital market. And that’s a good thing. Change is good, even in my own business.