There is no question that Flipboard has an early lead in iPad news consumption. The company just raised a massive $50 million B round to cement that lead. This comes in between iPhone photo app Color raising a $41 million A round, and LivingSocial raising $400 million so that its founders and early investors could take half of that off the table. There is obviously a lot of venture money sloshing around, especially for high-quality companies and teams. When investors offer startups a huge pile of cash at favorable terms, it is usually a good idea to take the money. And that's exactly what Flipboard did. But does an iPad app company really need $50 million? And does taking too much money ever backfire? Flipboard is no lean startup.