Don't follow the hype:)
The way i see things is simple.
X angel/vc knows how to play the game of taking some Y startup with non super unique idea/product and sell it to the Z highest bidder.
When X invest money the most important thing is to make Big News.
The Z are full with money to spend, they know that money need to circulate in order to multiply.
They watch The News.
They react. With money.
On the other side of the line are X, they also watch the news, dream for success and want to be Zuckerbergs.
And so on.
From my perspective the smartest move is to connect demands of Z and availability of Y. Be a X or The News channel.
But i am small, insignificant, away from first hand experience and everything that i think is away from The Game that is x,y,z.
Thinks i can do with one million funding, if i have it, in terms of product development, team building, business development, are so old school and simple that are not interesting to put here at all.
For me in this position the only valuable model is bootstrapping everything, test early in real world and iterate slowly and carefully in terms of technology and business model.
But i deeply respect The Game of x,y and z, not so in direct meaning but as side effect. If all this money are 20% effective they push new technology to the limit and test the audience and give as a valuable lessons without risking money that we don't have.
So if Z want to spend it's their decision to make.
Our is to choose a) to be valuable Y or b) to be other letter in the equation making our own working function, with our own proven methods and variables:)