The best position possible and the most equity aren't the same thing. If you can sell 1% of your company to an entity that adds 2% to the value, it's a good bet.
Regarding:
"The point is, if it's easy enough to avoid, why not just save up the money, and then do it?"
Here's why not. You take 2 years to save your money and then roll the dice. If you win big, you get 100% of your exit. If you lose, you spend all of your money. If you raise money, you get more funds than you'll save in 2 years. If you spend it carefully, presumably this will up your chance for success. If you win big, you get 75% of your exit. If you lose, you spend all of someone else's money. And you don't spent two years of a finite life doing something that doesn't turn your crank. :-) Add to that that the fact right investor(s) increase your tiny chance of success by a little bit without requiring that you give up any creative control...
Well, there are lots of good reasons.
I'm not disagreeing with the path you're on-- it just seems like you dismissed the alternative for the wrong reasons.
Losing someone else's money is a good point. On the other hand, I can live incredibly cheaply (and have in the past), and these days developing an idea is effectively free, apart from living expenses.
And you don't spent two years of a finite life doing something that doesn't turn your crank. :-)
Spending two years hacking without a boss would turn my crank plenty, even if all that comes of it is that I learn I'm not cut out for running a company, and go back to a job. I don't hate my job. The work itself is great; I just dislike working for someone else.
You've definitely pointed out some of the value in accepting investment, even before it becomes a necessity to keep going. I'll keep what you've said in mind, thanks.
Regarding:
"The point is, if it's easy enough to avoid, why not just save up the money, and then do it?"
Here's why not. You take 2 years to save your money and then roll the dice. If you win big, you get 100% of your exit. If you lose, you spend all of your money. If you raise money, you get more funds than you'll save in 2 years. If you spend it carefully, presumably this will up your chance for success. If you win big, you get 75% of your exit. If you lose, you spend all of someone else's money. And you don't spent two years of a finite life doing something that doesn't turn your crank. :-) Add to that that the fact right investor(s) increase your tiny chance of success by a little bit without requiring that you give up any creative control...
Well, there are lots of good reasons.
I'm not disagreeing with the path you're on-- it just seems like you dismissed the alternative for the wrong reasons.