I'm concerned a little bit with the culture of celebrating the fundraise. My dad taught me that when you borrow money it's the worst day of your life.
It's a very painful, eye-opening experience to realize, "Wait a minute, my dad actually doesn't want me to be successful because he's not happy." Whether you call it misery loves company, it's not like parents are bad people. It's a human trait. It's just a thing.
People who build family businesses are not classically trained. They have to deal with an enormous amount of politics. You think corporate politics are tough? Go work for your dad or your mom.
You have to respect your parents. They are giving you an at-bat. If you're an entrepreneur and go into the family business, you want to grow fast. Patience is important. But respect the other party... My dad and I pulled it off because we really respect each other.
