We've been thinking and talking a lot about working with entrepreneurs who bootstrap their companies to some pretty incredible accomplishments. We love to work with companies who not only don't need our money, but will go ahead and build whatever it is they're building or go to that next step whether or not we fund the company. The "give us money and then we'll build this" proposition is becoming less and less attractive in the face of entrepreneurs who say, "This is what we're doing and going to do next, do you want to be a part of it?"
Its kind of like dating. For me, I'm very wary of women who need guys. First off, any woman who actually needs a guy is probably grossly overestimating our value--and we'll probably just be a major disappointment to her if she gets one of us. Second, independence and motivation are two of the most important characteristics of the woman I am looking for. That, of course, begs the question of why the hell she needs me at all.
You should date and/or take on VC money for strategic, not financial reasons. If all your VC brings to the table is money, then its probably going to be an unsuccessful relationship--the same way that dating someone just to fill an emotional hole in your life won't provide the happiness you're looking for. You should partner up in either situation because the person you're dealing with brings a fresh perspective, exposure to a new set of opportunities to improve yourself--be it an interest in art or a relationship with Google, and an interesting experience that you find valuable and want around as you face the unknown future. No one knows what tomorrow will be like--all you can do is decide who you want on your side of the table when it comes and brings new challenges.
PS... If anyone knows any single women, I am happy to provide a business plan and executive summary of myself.