Dear startups: Don't treat money like toilet paper
Having lots of money isn't a reason to spend it, especially if you're a startup that has yet to prove itself as a viable, sustainable business.
There have been a lot of early-stage startups raising monster rounds in recent months. Ark ($4.2 million seed), Viddy ($30 million), and Gumroad ($7 million) are just a few prominent examples.
The funding party may be over though, at least according to Paul Graham, a prominent investor and founder of Y Combinator.
"Jessica and I had dinner recently with a prominent investor," Graham said in a letter to Y … Read more