That culture of frugality and discipline is really important for the Y Combinator mindset.

You really want a company full of missionaries, not mercenaries.

The way to build billion dollar companies is to first build something people love. There isn't really a shortcut there.

I love working with really early stage startups where the outcome is still in doubt. Maybe they'll go on to greatness, or maybe they'll never get off the runway at all.

Our superintendence in instruction and discipline is the office of the Word, from whom we learn frugality and humility, and all that pertains to love of truth, love of humanity, and love of excellence. And so, in a word, being assimilated to God by participation in moral excellence, we must not retrograde into carelessness and sloth. But labor, and faint not.

Generally, you want to raise capital either when you have to or when it's really easy. If the company desperately needs money, and they can't figure out any other way, then they need to raise money. Or if someone's offering you easy money on good terms, you should take it because you can use it for good things.