[downer]

> Why do you need to maintain control? Greed? Paranoia? The idea is too complex for others to understand? (note: none of these are good reasons ;) )

Note that maintaining control is different from hoarding all the money. The people who understand it best should be in control, regardless of how much equity they give to investors. This is not just in the early stages -- look at Steve Jobs calling the shots at Apple.

> As a leader, you should always strive to ensure that you can be replaced, and that the company can and would continue without you.

That's just not how startups work, at ALL. Losing a founder basically dooms a startup.

It only applies much later on, when the company has a huge bankroll and a life of its own.

[downer]

And even then, sometimes you still need Steve Jobs.