This is a panel discussion regarding the various aspects and issues of financing lean startups, beginning with a definition of lean startups to distinguish it from other startup description terms such as ... What is an "lean" or "agile" startup? Do non-lean startups exist? What are viable options for financing a startup until you achieve profitability or fundability? Is "lean" a (temporary) stage of a startup or a (permanent) type of startup? If it's a stage, what is the objective of the stage? What is a "product/market fit". How do you know when you've achieved it? If it's a type, what makes certain startups more applicable to the lean/agile approach than others? How do you finance startups not of that type? If you've already achieved a product/market mix, why would you then give away equity and control by seeking venture funding? What legal structures (LLC, C-Corp, S-Corp; Delaware vs. New York; etc) are most appropriate for the lean approach? What impact will proposed changes to angel finance regulations have on bootstrappers? What event should trigger a search for investment? Competition? Acceleration? Being first to market? Finding an application for a new technology? Funding development of an initial prototype? Sustaining a system with lots of users but no revenue model? Does 'lean-ness' change after financing? What should change about the way a startup spends money after a financing round? Moderator: Graham Lawlor, Founder of Ultra Light Startups and CEO of BrightMap Opening Remarks By: Kareem Kouddous, Co-founder & Organizer at NYC Lean Startup Meetup Phineas Barnes, Principal at First Round Capital Panelists (alphabetic order): Murat Aktihanoglu, Founder and CEO of Centrl Inc and organizer of Entrepreneurs Roundtable Brad Burnham, Partner at Union Square Ventures Joe Chin, Co-founder and CEO of SourcePad Peter Rothberg, Partner at Duane Morris Less