Bum rate is the speed at which a startup business consumes money. My rate would be $ 50,000 a month when my new media company started. So, I began looking around for individuals who would be my first investors. "Angel money" it was called. But when I reviewed my list of acquaintances to find those who might be able to help, I found the number got small. 

With no other choices, I began meeting with the venture-capital companies. But I was warned they took a huge share of your company for the money they put in. And if you struggled, they could drop you cold. 

As I was searching for "angel money", I started to build a team who trusted me even though I didn't have money for paychecks yet. 

Bill Becker was an expert in computer programming and image processing at a very famous Media Lab at M. I.T. With his arrival, my company suddenly had a major technology "guy" in-house. 

Katherine Henderson, a filmmaker and a former real-estate dealer, joined us as our director of market research. Steve White came on as operating officer. He had worked for the developer of a home-finance software, Quicken. We grabbed him. 

We had some really good people, but we still didn't have enough money. One night, my neighbor, Louise Johnson, came for a visit. She and I were only nodding acquaintances, but her boys and ours were constant companions. She ran a very good business at the time. 

Louise was brilliant and missed nothing. She had been watching my progress closely. She knew I was dying for money and I had prospects but could offer no guarantees of success. 

She told me that her attorney had talked to mine and the terms had been agreed upon. She handed me an envelope. Inside was a check for $ 500,000. 

I almost fell down. I heard her voice as if from heaven. 

"I have confidence in your plan," she said. "You' 11 do well. You're going to work hard for it, but it' s satisfying when you build your own company." 

Who would have thought I'd find an angel so close to home? There were no words sufficient for the moment. We just said good night. She left and I just stood there, completely humbled and completely committed.
What is early investment money called?
How much did the author's new enterprise cost per month?
What term is used to define that?
Did they have a lot of friends willing to assist?
Who else did the author look to for assistance?
What is one disadvantage to bringing them aboard?
What is another?
Where was Bill Becker working?
Was he in an unknown lab?
What was nice about Becker joining the group?
Who else came on?
Anybody else?
Which of them had software development experience?
Which software?
What did Katherine Henderson do before?
Was the owner of the company able to pay all these people right away?
Why did they join then?
Who came to the rescue?
Who was that?
How much did she contribute?
Angel money
Angel money
$ 50,000
$ 50,000
Bum rate
Bum rate is 
Yes
I started to build a team who trusted me even though I didn't have money for paychecks yet.
venture-capital companies
venture-capital companies
they took a huge share of your company
they took a huge share of your company
if you struggled, they could drop you cold.
 if you struggled, they could drop you cold. 
M. I.T.
M. I.T.
No
at a very famous Media Lab
they had a major technology "guy" in-house.
 had a major technology "guy" in-house. 
Katherine Henderson
Katherine Henderson
Steve White
 Steve White
Steve White
Steve White 
Quicken
Quicken
a filmmaker and a former real-estate dealer,
 a filmmaker and a former real-estate dealer,
no
I didn't have money for paychecks yet. 

They trusted him
trusted me 
his neighbor
my neighbor
Louise Johnson
Louise Johnson
$ 500,000.
 $ 500,000.