This has nothing to do with VCs. Building a business-any business-is incredibly hard and stressful. I'm not sure if you've been there, but bootstrapping a business, really building something new and unknown from nothing, is infinitely more stressful than running a funded startup.

Raising money at least gives you a little cushion, a little breathing room to experiment and fail and try again. Bootstrapping, the "you don't sell, you don't eat" bootstraping, is constant, unending stress and fear. One single mistake, one bad hire or mismanaged advertising buy can kill the business, and the stress and pressure to stay alive is constant- the sword is always hanging over your head, and at any moment you think it's going to drop.

And that's what bootstrapping a successful, highly profitable business was like. I can't imagine what sinking all your time and savings into a failure would feel like. The sheer carefree bliss of never again having to decide whether you should buy AdWords ads or eat meat this week is worth whatever equity stake you give up.