seed (angel) funding in 1996: I wrote UNIX. I got rich enough to fly my jet to visit you. Here's $200K, I want 10% of the company.
seed (angel) funding in 2006: We wrote a web store. We got rich enough to fly you in a jet to visit us. Here's $10K, we want 20% of the company.
seed (angel) funding in 2007 and beyond: We hired some guys in india to make a web site. We got rich enough to buy a jetta. We can't tell you how much money we will give you, we want all of the company. (but only if it all works out in a couple of months.)
seed (angel) funding in 2006: We wrote a web store. We got rich enough to fly you in a jet to visit us. Here's $10K, we want 20% of the company.
seed (angel) funding in 2007 and beyond: We hired some guys in india to make a web site. We got rich enough to buy a jetta. We can't tell you how much money we will give you, we want all of the company. (but only if it all works out in a couple of months.)