On keeping the captable "clean", this is what Michael Siebel had to say:
> Can we kill the myth that your company is screwed if there are too many investors on your angel/seed round cap table? Having too many angel/seed investors on a cap table has never killed a single YC startup. For founders who are raising: if you can get the money you need and reduce dilution as much as possible - I don’t care if you collect 1 check or 20.
True, but it can make negotiations later on a lot harder and it increases the chance of having a problematic investor on board. The more professional investors are the easier it is to make deals. A start-up doesn't have to be killed for it to be a problem. Speaking from experience: I had a 5% problematic shareholder in camarades.com/ww.com in 1998 and it significantly reduced our chances of success.
> Can we kill the myth that your company is screwed if there are too many investors on your angel/seed round cap table? Having too many angel/seed investors on a cap table has never killed a single YC startup. For founders who are raising: if you can get the money you need and reduce dilution as much as possible - I don’t care if you collect 1 check or 20.
https://twitter.com/mwseibel/status/1424437194479915009