Eric Paley has a great post up on TechCrunch titled Venture Capital is a Hell of a Drug. As a successful entrepreneur and investor, he offers up a number of great ideas. Here are three quick thoughts:
- Venture capital increases risk for founders
- You limit your exits
- You increase burn to dangerous levels
- VCs need billion-dollar exits — you don’t
- Capital has no insights; it’s just money
- Exit value is a vanity metric
- Practice efficient entrepreneurship
- Smart people, dumb money
Head on over to TechCrunch and read Venture Capital is a Hell of a Drug.
David Cummings on Startups 
Very insightful way of stating the facts.