…nd perhaps this point is intentionally hyperbolic, but I would caution against taking it literally. It’s difficult to focus on execution when you’re carrying a great deal of personal financial risk. This is one reason savvy investors try to take day-to-day financial stresses out of the equation (for example, by ensuring the team has a living wage).
First off thanks for reading and responding.
And I agree on providing your team with a decent living.
But I’m not sure if you’ve heard from many successful entrepreneurs (the more earthly kinds, not tech billionaires), one of the best way to ensure success in business is to have no other way out. It can certainly result in bad health and such, but I can certainly attest to the fact that it works…
That said, its good to have a basic standard of living if possible. The problem today is, too many founders want to justify a “market rate paycheck” for themselves the minute they get funded.