More is Less

I wrote a couple of posts yesterday on the resiliency of entrepreneurs and their ability to start new ventures even if venture capital is not flowing freely.  In a post by Jonathan Ortmans at Policy Forum on Entrepreneurship Blog based on what he heard during a recent discussion among investors, he offers the following observation:

There was a universal agreement, bar one person, that now is an excellent time for investors in new start-ups and that entrepreneurs should be cautious about accepting too much outside capital.  In fact, ironically, all three serious start-ups I met last week had not accepted any outside funding at all.
 
Let's hope that scarce capital means more smarts and better success rates for the entrepreneurs.