There's a great post on VentureBeat today called When seed funding is better than Series A. If you're a first-time entrepreneur looking to raise a first round of investment for your business, please do yourself a favor and read the post. The key point: Take as little money as possible to prove something meaningful. It's easier to raise more money from a position of power. The other side of the argument: Do you believe in angel investing? For first time entrepreneurs, the VentureBeat article makes perfect sense.