Jay W

If “no” then you know it’s a waste to send the information. What interested party wouldn’t even grant you 15 minutes? “Just send the information and when we analyze it we’ll set up a call” is not good enough. If you have self-respect you’ll say “no” to that request. And frankly, the more you say “no” the more likely they’ll take the call and the more they say “no” the less likely you should want to work with them.

… important when a company exits via M&A or sells off its assets during bankruptcy/recapitalization. A liquidation preference is not relevant to public exits because an IPO typically auto-converts all preferred shareholders into common shareholders.

…perceived “winners” so the Series A VC can draw a path to where the next few rounds will come from. A result, the more mature the vertical (SaaS, commerce as examples), the less interested a Series A VC will be in an investment that just checks the boxes — ie it’s not about simple milestones. Which also means….