The entrepreneur pays. He pays with equity.
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PEG 2.0 as part of the “If you are not paying for it, you’re not the customer; you’re the product being sold” thread.
Rafer sez:
@PEG2.0 Having been on the Common Stock end of that stick almost countless times, I don’t agree. That’s the same line@bryce took in attempting to dissemble, though I realize you didn’t get caught crackin’ on your own gig the way he did.
Maybe, just maybe, you could rationalize that the founders pay with time. But in all actuality money talks and bullshit (paper) walks. The startup is the commodity being sold for cash to the LPs. There are any number of manufacturing processes that treat the unfinished goods with little regard and where the majority of Work-In-Process inventory is wastage.
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