joshua coates is the founder of two companies that he later sold, now the ceo of in structure, $80 million for these businesses. >> how are you doing, j.j.? >> we talk so much about how do i get money? how do i raise money? you're saying hold off a second. think about the strings that come with it before you go and ask for it. >> it's understanding who you're getting money from, what they're receiving in exchange for that money. typically as we see corporation exchanges, but once you raise that money a lot of times you think, hey, we made it. >> right. >> but it's just the beginning. >> a lot of things you say is money can clog your judgment. it's owe true. people had so much money, throwing lavish parties, big ad campaigns when they had no business doing that. if they were bootstrapping it, they might have made smarter decisions? >> the first money i raised was in 1999. i've raised a lot of money over the last 15 years from a lot of different venture capital firms for a handful of businesses. i can tell you, when you raise a lot of money, you tend to spend a lot of money. it's just a natu

joshua coates is the founder of two companies he later sold, now the ceo of instructure, he's got experience having raised about $80 million for these businesses. great to see you. >> hi, how are you doing, j.j.? >> we talked so much about how do i get money, how do i raise money? you're saying, wait, hold off a second. before you ask for money, think about the strings that come with it. >> well, it's understanding who you're getting money from and what they're receiving in exchange for that money is important structurally. typically, a "c" corporation exchanges preferred stock for cash. >> right. >> once you raise that money, i think what happens is a lot of times you think, hey, we made it. but that's just the beginning. >> one of the things is money can cloud your judgment and it's so true. think of 1998 in the dot com era when people had so much money throwing lavish parties, doing these big ad campaigns when they had no business doing that. if they were sort of boot strapping it, they might have made smarter decisions. >> the first money i raised was at the peak of the dot com era in 19