Quite the opposite. It should be a badge of honor to do more with least funding, waste, capital, effort, etc. as possible. I'm convinced at this point that too much funding, especially to inexperienced ops scaling-hat wearing founders, is far, far more destructive than the focused struggle of slightly underfunded, hungry shops that are focused on delivering and not on the tired mythology of funding == success == exit.

OTOH, the campaign to get the last slot cost him only $0.01.

PS: Don't buy a Ferrari if you get funded, it's wiser to milk the poverty appearance card for all it's worth. (I know a guy that recent sold his startup to EMC for 8 digits that ran around with 3 missing hubcaps.)

http://paulgraham.com/fundraising.html