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One of the things I like about this ecosystem (hackers and entrepreneurs and whatnot) is that people tend to evaluate you based on your skills and knowledge and not your purse.

I guess entrepreneurs ask for money (as funding) but at least they are offering you a piece of themselves in return, so it doesn't feel nearly as bad.

I would reevaluate that friendship.

I'm guessing he isn't dead serious or he means it in a mutual way.

He is but you are right, he also says he would owe me 7 digits.

Your 'friend' seems to imply that the favor of being your 'friend' is so difficult that he deserves monetary compensation. Perhaps you should relieve him of the tremendous hardship you have so obviously imposed upon him.

You have a strange definition of "friend".