This is largely a psychological debate. Entrepreneurs are always driven by money and they always want more of it. So as soon as they have earned some money, they set themselves new goals and dream even bigger. So as soon as they have money, they act as if they don’t have it. Therefore Money = no Money.

This is a practical statement about the expectations startup investors have in return for the money they offer to a startup. Although the money is always the same, the conditions for its use are “earmarked” by the funder, depending on their own interest and business model  in offering the money. Even though money is, by definition, fungible, these exchange conditions make that not all money is the same. It depends on who one receives it from.

This is largely an academic debate. There is little to say about how to best raise money from investors from an academic point of view, as researchers are still debating what money is.

This is a political statement about the role of taxes on entrepreneurial profits. While some people suggest that entrepreneurs should be taxed on their profits, others say that entrepreneurs should be subsidized so that there is more innovation. Politicians may disagree on their philosophies, but they agree that what the entrepreneur earns is not necessarily what she keeps.