I’ve been thinking lately about how founders should decide when it is time to sell their startups and how to put aside the different incentives that often drive these decisions. 

Large VC funds have a strong appetite to fund entrepreneurs that want to swing for the fences. 

This was evident in Sand Hill Road criticisms of Aaron Patzer for deciding to sell Mint for only $170MM and the coining of the term “The Patzer Problem;” describing entrepreneurs that are viewed as selling too early, where the return looks great for the Founders and perhaps smaller investors, but is disappointing for larger funds.

This post was also influenced by criticism I've heard of the East Coast, where entrepreneurs and investors are viewed as having less appetite for risk, selling startups early at the first good offer.  Bill Warner has shared some interesting thoughts on this topic and calls for Boston to strive toward more home runs in the interest of building a healthier entrepreneurial ecosystem.