There seems to be a pervasive myth that venture capital is the pinnacle of building a company. The conventional “wisdom” is that young entrepreneurs should come up with an idea, write a business plan, go out and raise venture capital, and voila, they will strike it rich! Many young entrepreneurs think that if you can raise money through venture capital, you can make millions with no downside. Get a high valuation, pop some champagne, and then go home a success. But I can’t think of a worse way to start a business than with other people’s money.
