People who do this for a living (VC's) fail 90% of the time...and the ventures they invest in are typically relatively far along with customers, revenue etc. So their investments are de-risked more than the ones you are talking about.
You know its going to be a crapshoot...my advice is to value the equity as worth nothing and assess the project from there.
__________________
"WHAT HAVE WE EVER DONE TO DESERVE THIS??? WHAT IS WRONG WITH US????" -Oiler Fan
"It was a debacle of monumental proportions." -MacT
|