Since I've been working with entrepreneurs on developing business plans to raise capital since 1999, you'd expect me to be on the side of raising outside funding. But I'm not most of the time. Sometimes, I even counsel my clients to bootstrap and grow organically. (Organic growth is anathema in Silicon Valley.)
I believe bootstrapping is better. I'm even co-writing a book with a really successful entrepreneur which includes content on how bootstrapping can work in your favor.
For now, read the NY Times article and think about the two sides for yourself.
The founders of GoodData and RJMetrics took different approaches to starting their data analysis businesses.