The curse of too much money

Having too much money is as bad for a new business as having too little warns a Silicon Valley VC

happy guy with lots of money

One of the biggest days in the startup calendar is Y Combinators’s pitch event. This year, the incubator’s president Sam Altman, put a downer on the day by criticising the overly high valuations on new tech business.

“I don’t think founders have to take lesser valuations — their valuations are very, very high,” Business Insider reports Altman as saying.

“I don’t think it’s necessarily good when companies are able to raise money at very high valuations, or raise lots and lots of money” continues Altman.

It’s said a Chinese curse is ‘may you live in interesting times’, for new businesses ‘may you have too much money’ could be equally bad news.

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Author: Paul Wallbank

Paul Wallbank is a speaker and writer charting how technology is changing society and business. Paul has four regular technology advice radio programs on ABC, a weekly column on the smartcompany.com.au website and has published seven books.

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