If you have previously recommended this thread, you should see a tick / check mark on the recommend button. Click the tick to undo the recommendation (the tick may appear to change to a cross as you do this.) If you added a comment with your recommendation, you will need to delete that from your facebook wall separately.
It does sound impressive doesn't it. However it's only a valuation and it's a bit like being told your house is worth loads by a hopeful estate agent. In reality it's only really worth what somebody else is prepared to pay for it. Then you get offered 50p and a bag of sweets for a majority shareholding by the VC's. Which is why I'd always be wary of techie startups with no assets apart from a bit of IP. They might say they're going to be worth 10 million but whose going to pay it and why?
As for work I have 12 hours childcare a week plus a two hour nap everyday to work in and I have a terrible tendency to fall asleep with DS at eight and work from midnight to fourish. So I pretty much do full time hours for next to no pay.
TBH investing in startups is fraught with danger. I always look on it as akin to gambling don't put in more than you can afford to lose. That said we have a startup and our family/ friend investors are looking at a 626% return so it can be pretty lucrative too.
I saw this on techcrunch and thought it might interest some other MN'ers: http://techcrunch.com/2012/07/05/seedrs-goes-live-to-help-crowdfund-the-gap-in-idea-stage-investing/ - I don't work for them, I promise - I'm just a terminal optimist, so I liked the idea! I've always wanted to start my own business but I think you might need more free time and less DC vomit on your clothes
The idea is you invest in early stage startups - it's like kickstarter but with a real windfall if any of the young turks on there become the next facebook. Am I about to lose all my money?