Chris Poole, on his personal blog:
Not every idea represents a venture-backed opportunity though. That isn’t to say the idea or opportunity lacks merit—it’s just that another vehicle may be more appropriate for pursuing it. Bootstrapping, borrowing from close friends and family, a traditional bank loan, et cetera can also help bring an idea to life, and before the age of venture capital, is how most people got started.
Chris has been writing lately, though he hates it, about how his latest venture didn’t make it “up and out” and the lessons he has learned from it.