25 things I learned from Fred Wilson

I think the point Tren makes about dilution and how the fancy office and Aeron chairs which are funded by investor capital all can be translated into equity given up is spot on. Think founders often forget that especially in our current culture of fundraising being celebrated as a sign of success.

As I read Tren's example, it seemed insanely short-sighted especially when the goal should be not just maximizing the value of the equity but maximizing the amount retained by the people building the company on a day-to-day basis.