You're under tremendous pressure, and everyone needs you to be perfect all the time, and that often creates a perverse incentive to not tell the truth. Please remember - when you get caught not telling the truth, it's over.

There are lot of ways people get non-economic payback - learning, networking, and relationships. These drive most angels more than the money.

I was one of the early folks at eBay, and by 1999, it was completely overrun by consultants from McKinsey, Bain, and BCG. It went from being a cool, fun startup to an MBA factory.

Gil Penchina Quotes