A VC: The Fiction of 20%

Great Line:

The scarce resource in the venture capital business is great entrepreneurs with cutting edge ideas willing to work 100 hour weeks turning the ideas into businesses. The scarce resource is not capital

I always felt that VCs continue to spread the 30% minimum ownership myth to manipulate the expectations of entrepreneurs seeking funding. Good to know that my gut feeling was right.

Up to a point, the more VC's ask for, the less leverage the entrepreneur has to make his fortune, and the less he cares.