Marc Andreessen explains the Onion Theory of Risk and the best way to raise capital for your business: "You can think about a startup on day one as having every conceivable kind of risk." "The way to think about it is—you're peeling away risk as you go and by achieving milestones. And then as you achieve milestones, you're both making progress in your business, and you're justifying raising more capital." @pmarca on @ycombinator