Hey, Paul: I've got an even better idea. What say I just cut all you investors out altogether? Whatever happened to growing a company slowly, based on the profits coming in? Oh, that's right - we don't do this in the tech industry because everyone says it won't work.
That's just a bunch of bunk. Nothing was funnier during Web 1.0 than guys saying we were "rewriting" the rules of business - like, profits didn't matter. Truth is, from a business point of view, starting a web service is no different than starting a dry cleaners: give people what they want, at a reasonable price (in our business, that usually means ad-supported)... and they'll come back (and click on ads in the process).
Yes, it may take some technical innovation... but it doesn't take any business innovation. Everything you say in your essay is true; so seriously, why do I need you? You expect me to go through this whole dance to come to Cambridge for, what, the possibility of five-thousand bucks? And then move to SilCon for three months so you can keep tabs on us once a week? Like, are you serious?!
Your essay is particularly prescient because you might have inadvertently predicted the ultimate demise of your current business - i.e., venture funding. No, I won't fill out your form; no, I won't travel to Cambridge for the possibility for you to give me five-thousand bucks. No, I won't move to the Valley so you can keep tabs on what I'm doing. I'm a big boy, and I can take care of this end myself, thanks. Good luck with giving away your cash.
James Touchi-Peters, Founder/CEO CONK!/Arrow Media Minneapolis USA conkhead@conk.com http://conk.com