I don't think many VCs let you "take money off the table" in the Series A. It has been done, but it's rare, and it's a sign that a founder doesn't believe in the business prospects that they're asking everybody else to invest in.
I guess you are getting a lot of people throwing your old posts back at you, but...
Why not? You say yourself that the 1 in 20 shot at a lot doesn't usually make sense for an entrepreneur with other options. If you prefer a partial cash while betting big with the other piece, why should this mean you don't "believe in the business prospects that they're asking everybody else to invest in?" It doesn't mean this when anyone else does it.
> It has been done, but it's rare, and it's a sign that a founder doesn't believe in the business prospects that they're asking everybody else to invest in.
Fred Wilson (avc.com) disagrees. He thinks that letting founders take money off the table is a great idea in several circumstances.
You don't want founders looking for/taking an exit too soon.
