I agree re: risk taking. I would go as far as to say that when the fundraising environment is frothy, paying yourself $150k p.a as the CEO of a VC backed firm actually isn't 'taking a risk'.
There is a class of entrepreneur who don't quit their job, or leave one foot in that door, until they actually raise money and can pay themselves that salary.
for eg. I know of a smallish no-revenue VC funded startup where the CEO and founder pays himself $300k. what the board and investors didn't know is that for the first 6 months in the life of the startup while he was 'salary sacrificing' he was actually consulting with a big co. for $30k a month. I wouldn't call that taking a risk, its the opposite, really
The guys grinding out on almost nothing and quitting their jobs are the real risk takers - and that happens with self-funded, family funded, friend funded, angel funded, VC funded or zero funded businesses.
There is a class of entrepreneur who don't quit their job, or leave one foot in that door, until they actually raise money and can pay themselves that salary.
for eg. I know of a smallish no-revenue VC funded startup where the CEO and founder pays himself $300k. what the board and investors didn't know is that for the first 6 months in the life of the startup while he was 'salary sacrificing' he was actually consulting with a big co. for $30k a month. I wouldn't call that taking a risk, its the opposite, really
The guys grinding out on almost nothing and quitting their jobs are the real risk takers - and that happens with self-funded, family funded, friend funded, angel funded, VC funded or zero funded businesses.