Somewhere further down in this discussion raising money was called an interessting way to pay salaries (or something along these lines). And for me there lies some truth in it. For a certain growth rate one needs external funding to keep the business running in a pace that wouldn't be possible on income alone. The problem is, at least from my point of view, that it's a tempting idea to do all the growth on funding instead of income. And then it's only a small step to hold funding in a higher esteem than income and profits. A view I for my part I see kind of reinforced by the tone of the TC article.

Again I agree that to build the next Google or whatever funding is necessary. But focusing in funding as the only source of cash for a business and as an IPO as the only way to make a profit is equaly dangerous.

But I think you that's more or less in line with your essays on fund raising. If not I understood them wrong, so feel free to correct me!