> Nothing excludes people who start lifestyle businesses from starting a huge multi-billion dollar infrastructure play after they have created their first business.

so they would invest their own money to create a bigger company, the difference being that the source of funding is now the founder

then the founder thinks, jeez, I am taking a big risk here, investing $100M of my own money to start this bigger business. I am going to call some friends and ask them if they want to share this load

and thus you end up re-inventing venture capital

issue of semantics isn't it - why does it matter that it has to be the founders own money?