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Had to stop reading, could the author be any more pretentious? The obvious flaw in the reasoning is step 3, having more capital results in you making worse decisions. Uhm, no, having more capital can also give you more options, allowing you to make potentially better decisions sooner.

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I quit after 2 because doing a startup means you have all eggs in one basket thus skin in the game is not reduced.

> Raising capital to do a startup reduces skin in the game (you’re spending other people’s money, after all

Peoples most scarce resource is the time they are investing and I have yet to meet a founder that doesn't do 80 hour week to make the wave next week.

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