[seats]

"don't take money unless you need it" is not an unusual bit of advice inside of TechStars either. One of the top companies in the last TS Cloud class is bootstrapped and on fire - http://drifty.com

They could have raised tons of money but don't need to. Most mentors steered them toward growing their business financing free.

Another way to look at seed stage investors is not that they are sprinkling their money everywhere hoping something works but instead that the limiting resource is they don't have enough time to pursue all their ideas and want to back people who are working on things that align.