Love this quote from Fred Wilson on Valuation vs Ownership

We are also very much focused on what is in the best interest of the entrepreneur. You might ask “how can taking $2mm for 20% be better than taking $5mm for 20%?” and youd be right asking that question. The answer is you can get the other $3mm later at an even higher price. That has been the history of many of our investments.

via A VC: Valuation vs Ownership.

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