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In The Media

Saying No to VC 11-20x

by Larry Chiang on March 4, 2016

By Larry Chiang
Venture capital seems awesome. Like all houses, house has set the rules to win. 
Thus, we wanna play with house money. 
Does that seem contradictory!?
Here is what I mean:

Larry Chiang (@LarryChiang)
I am advising #SayingNoToVc at least 11-20x before you later say yes
cc: @marcusnelson

When you NEED the money, do not pitch VC. Sound familiar!? If you need cash, do not use your credit card. Let me repeat, don’t pitch VCs if it’s your first startup

Marcus Nelson (@marcusnelson)

Marcus Nelson, founder of Addvocate

Larry Chiang (@LarryChiang)

House money comes after you say no 11-15x. House money is the concept within treasure management where we are not under the gun. Taking VC before saying “No” by definition is being ‘under the gun’. For example, the VCs that funded you now may fire you. Another example is that you lose board of director control. 

So now you might be thinking… Why would VCs keep asking after I have said “No”? Master these two Stanford engineering videos about entrepreneurship. 

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