Longest comment I'll likely ever write here. While reading this keep in mind that it is easier to criticize than it is to write and that 101 applies to me even more than it does to James Altucher who I tremendously respect.

1 & 2)

That's US start-ups only. Elsewhere consult a fellow starter-upper and/or a corporate lawyer.

4) I'd build the product after finding the first customer, and I'd build it together with the first customer. I'd stay away from friends-and-family money at all costs. My friends-and-family are worth more to me than whatever money they can supply and the risk of failure is no different for this new fantastic idea than for any other.

6) Debatable. I work for quite a few venture capital companies and NDAs, while not the norm are definitely in play especially in the bigger deals.

7) I'd weigh those a bit more careful depending on where the centre of gravity lies. If someone contributes just an idea and won't be doing any work an equal portion would not be on the table because it will become a deadweight in the long term.

9) depends. If the service is marketing then that would be up for discussion. Large amounts of leverage in marketing can be a big success factor and a partnership with a company with both eyeballs and experience can make life a lot easier. One way this is sometimes structured is through an investment part of which is then spent at the company doing the investment, other times it is an outright swap. Complex but workable.

10) only works for b2c. Not everybody builds apps.

11) contradicts 4.

12) strong disagree. If you feel that you're selling yourself short then simply don't. Venture capitalists telling you to take money at any valuation ...

15) no way. No deadweight, even if that brings business. Likely they're just trying to offload their friend and you'll end up with deadweight and you still don't get the business or it turns out that it nets less than the friend costs. This doesn't scale unless you fire the friend right after you do get the business (in case that happens...). Needless to say this is unethical.

16) stay in touch but not once per month, you've got better stuff to do than to re-visit all your rejects once every month. Selling starts at 'no', so do keep an eye out, they never leave the 'prospect' bin.

20) do it, but if you can charge for it.

25) some sour grapes there. Contradicts 23

26) If it were easy to distinguish the obvious losers from the obvious winners this would be actionable.

27) when you need them.

28) Cisco.

31/32) It depends. Taxes are at some stage in your development unavoidable. If you are putting everything on red then not paying taxes can be a valid strategy, it can also be the fast track to bankruptcy. Adjust to your comfort level and don't let VCs push you into making bad long term decisions, their goals are not aligned with yours.

35) Don't. It complicates matters tremendously and opens you up to potential lawsuits and any move you make after that will be classed as favouritism with the rest of your crew. It also makes for a very uncomfortable atmosphere in case the relationship ever sours.

36) Employees should be fired if and when they don't keep up their end of the employment arrangement or when you can predict you will run out of cash (this can be costly in and of itself!). If your employment agreement states you should not gossip then don't, otherwise I don't see how you could fire someone for that. Employees with an attitude are pretty common and those are often the best people.

41) then work like hell on getting your revenue more balanced. One customer that can sink you is a time-bomb waiting to happen.

44) do your homework and know your competition better than they know themselves. Know their weak points and their strong points, show how your attacks drive at their weak points and how your defences are taking care of their strong ones. This can be a lot of work. But don't let yourself be taken for a ride by your competition, you are driving your own course.

45) Figure out what it is worth to the other party. The cost+ model is likely going to end low, especially if you are a dominant player and/or have a significant userbase or network effects in your offering.

47) that's just sad.

48) this works if you run a lawyers office and in some b2b offerings. (I'm trying to imagine github charging extra for github pages or issues).

49) b2b only

52) only a little bit and only in the beginning. and make that clear.

56) debatable. Blog if it works for you, if it doesn't cost you a lot of time you need to spend elsewhere and if you can do it as part of some strategy. Don't just blog to blog.

57) strong disagree. Care about what you are netting and keep track of which sales are netting you money and which ones are losing. Get rid of the losing ones. Revenues are nice for a flip or a crash-and-burn strategy but at some point you're going to run out of infused cash and you'll have to stand on your own 2 feet. Don't be caught out with lots of revenues and negative profits when your growth plateaus. If you do you're dead.

60) I'd hear them out first.

62) that seems to be one for the FAQ.

63) Hm. They're all likeable, at least most of them. Turning up the charm when talking to founders is something VCs have down pat. That doesn't mean that you shouldn't be looking very closely at the terms sheet. Don't like something? Strike it and see if the deal stands. If not then walk. You don't need to sleep with them, you need to find a good partner. If you like someone but they screw you over afterwards that contract is all you have.

67) weird.

68) depends. If you're in enterprise IT then make that 6 months. Those sales trajectories can be very long.

71) Wonder what Brin & Page have to say about that.

73) You do have boundaries. You need your rest or you'll mess up for all your other clients. If a client is important enough that they can call you at night then by all means, serve them but reserve that privilege for a very select group or you'll be looking at burning out in a year or two.

76) Don't borrow from the business if you have partners. Pay everybody or pay nobody.

81) Find a good middle ground between the two, it can be done.

82) rubbish. For a VC your private life is not as important as it is to you. If a VC I worked for told a founder to quit their relationship I'd resign on the spot. It's none of their business, really.

90) not every business revolves around traffic. Some business I know have very little traffic and are immensely profitable.

94) No, but make sure you're not accidentally violating your contract.

99) That's really up to you. Don't sell if you don't feel like it. Ask Mark Zuckerberg.

100) Some people do.