Venture-capital investors and others have been bidding up the valuations of consumer Web start-ups this year, particularly of the firms that show the most user traction. In an echo of the 1990s dot-com boom, some investors also are giving lofty valuations to Web firms that have no revenue and that barely have a product out.

If you want to earn a market value salary, you need to get a job. Paying yourself isn’t a good enough reason to justify raising early stage funding. I realize that sounds harsh, but it’s not intended to be.