Why does he say:

10. You will probably have to replace many of your employees if you raise money from someone.

Best guesses:

a.) Because the VCs will fire some of them

b.) Because the remainder will quit over the treatment of the employees in a.)

VCs often like to install their own people in key positions within their newly funded companies. Oftentimes, the people they replace are well-respected nonconformists. The replacements are well-connected incompetents. There's nothing more demoralizing than some moron in a suit taking over for the guy who's helped you a hundred times.