Rob Biederman thinks there’s such a thing as too much money. “Excess capital covers up intellectual laziness,” he said. “The best, best companies never burned any capital, because they were rigorous about finding ways to make people pay for their product.” Biederman, managing partner of Asymmetric Capital Partners, has a point. Consider, for example, Google—which raised a mere $25 million prior to its 2004 IPO—or Atlassian, which raised about $60 million in VC dollars before taking on the public markets. ...