Having started 4 companies I respectfully disagree.
If you treat investors as purely money, that's all you'll ever get from them. In this market though there's tons of money out there. It's more important to get smart money. And from my experience, it's just as important to get money that you like to be with. I made the mistake once of taking money/valuation over the person I preferred to work with and it haunted me for years having someone on my board who I never really liked.
I've started plenty of companies as well and there's a big difference between smart money and people you like. There are plenty of investors that are nice and friendly but are completely clueless when it comes to critical decision time. Some of the most knowledgeable and effective investors are not the kinds of people you would get a beer with at the end of the day.
I regret exactly the opposite decision - going with someone I preferred to work with over someone who would have been a better board member.
If you treat investors as purely money, that's all you'll ever get from them. In this market though there's tons of money out there. It's more important to get smart money. And from my experience, it's just as important to get money that you like to be with. I made the mistake once of taking money/valuation over the person I preferred to work with and it haunted me for years having someone on my board who I never really liked.