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There's a great piece of advice an experienced founder told me: the longer you wait to raise, the better off you'll be.

In my first startup we were so happy anyone would be interested in funding us we took on, in hindsight, some pretty bad terms. But having said that, our first raise got us onto a tech blog where a person reached out intrigued by what we did and turned out to be our best engineer.

It's really a calculated risk. Despite all that, since we got acquired reasonably early on, our engineers made a pretty solid return.

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