Pretty interesting question. I know at least one company which have burned more than $5mil in VC funding over ten years, and they only have a semi stable prototype built on 15 years old tech (which they claim is an actual product). Clearly there’s money to be had, but how to get them is the question.
Yeah, I know, not a lot for a Silicon Valley startup. It's still a ton of money else where in the world. In Denmark, $100.000 will buy you a top notch developer for a year.
HN always assume Facebook, Twitter and Uber when talking startups, but the vast majority of startups in Europe are going to be much smaller, and $5M over 10 years is something that would be a godsend to most startups.
