Thoughts on bootstrapping and pursuing non-VC funding to build a software startup?

Trying to think creatively re fund raising and recognize there are multiple paths to building a company, and all paths don't lead to VCs. 

Pros and cons?

Building Stacks as CEO @ Hiro. Building random stuff around my house in MT.

Love this.

Having the time to find early product market fit, especially in a quiet market, is super appealing to me. Don’t want unnecessary pressure and just want to build and iterate directly with customers.

Big pro on bootstrapping is flexibility. You can take your time to figure it out and get things right AND THEN take VC if it’s the right move. 

Once you take VC it’s hard to get off the hedonic treadmill of it.

building @so many products • prev. @everyname (acq) @nethermind @proximacapital @consensysacad • thomphreys.com

How do you distinguish angels from VCs as a source of capital? Eg I like the idea of recruiting smart money angels who are bought into the mission and connected to the culture and the space as a means of maintaining independence and pace of growth.

Plenty of avenues to take in crypto: grants, accelerators/incubators, and angels.

Big pro: Institutional interest (professional backing)
Big con: giving-up large % of equity/tokens; dealing with additional shareholders

Co-founder at @banklessconsult, the leading strategy-to-execution global consultancy in crypto. I write on paragraph.xyz/@mc10

Pros:
- independence
- fundraise later at higher valuations if you achieve traction
- your conviction & willingness to bootstrap are a major proof point for VCs 

Cons:
- risking your own capital
- capital limitations require you start the company with the absolute right people 

My quick brainstorm on the subject :)

VCs often offer also guidance, which is sometimes valuable at the start.

But to stay independent is a really nice goal also.