Lecture 9: How to Raise Money
All the top tier VCs (including YC) repeat the mantra "don't sweat the terms". It also appears on Ron Conway's slide in this lecture.There seems to be a dangerous line between taking a good deal as offered and getting nailed by a bad deal. It's easy for the VC to say "don't sweat the terms", they are setting the terms after all. The advice makes sense if you're working with a top tier firm that has a reputation to protect, but it seems like it could be quite dangerous when applied to lower tier VCs?