There was an interesting article on Portfolio.com by Russ Mitchell entitled "Would You Give This Kid $500,000?" which profiles a prototypical 19-year old technology entrepreneur by the name of Jared Kim whose new business is categorized as leantech or technology-based but with very low overhead and a very small staff. In this case he has managed to score some funding for his new online video venture.
The big question is what level of funding is appropriate for such a lean startup. Is it better to go for a significant level of funding and move into markets rapidly but with higher risk, or remain as a self-funded effort until some results can be seen?
In the current environment of an excess of capital, the "game" seems to be to get a substantial pile of cash and then "roll the dice" and "go for it."
It may be more a matter of personal style and preference.