Attempting to mentor a founder raising $3M on a $25M cap on why this is terrifying to me.
He adds, “I don’t think Series A investors care about our safe caps…I don’t believe there’s much downside for the company if we can’t 2x our highest safe cap.”
?!?!?! 


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He doesn’t get that narrative really matters over time both for fundraising and company morale. So clearly little concern for if they can meet the milestones everyone will expect them to hit in a year to get to $75M. This is a prelaunched product in a regulatory space.
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thanks. interesting to hear the investor perspective on this; naively would have expected expectations to literally be about it being a cap. have invested uncapped (tiny seed amounts) just to get the ball rolling before…
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