This is just an advert. Can we please stop supporting all of these "XYZ is Dead" articles with no real solutions provided and an obvious unlying financial agenda.
This is quite confusing. "A brief summary, the hacker created a proxy on the credential page to log the credentials of Facebook employees. These logged passwords were stored under web directory for the hacker to use WGET every once in a while".
So they were grabbing creds, but it's ok it was just a researcher? Pretty sure that's crossing the line and indicative of an actual compromise of employee credentials.
Found the problem! "It is going to be hard (or impossible) for many of today’s startups to raise funds." You don't need to take on millions in debt to start a company.
Strictly speaking, raising VC money isn't taking on debt. You're selling equity and if the company fails you don't - as a general rule - repay the investors anything.
That said, I agree with your overall point about not needing to raise millions of dollars to start a company. That's one way of doing things, but hardly the only way. Another choice would be to just take a regular job and start your company as a nights and weekends side project (deal with any potential IP issues, of course), or do consulting in your area of business and gradually transition from a service company to a product company. I'm sure there are others.
