One specific (and scary) thing I am seeing in the early stage market that is symbolic of a broader loosening of constraints by investors - the majority of "diligence" coming in the form of simple Q&A sent over email and then dropped into a memo as the *primary* source of work
imo this has always made me feel safer than doing limp q&a over the phone where there is literally no record to be held accountable to
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for sure. very helpful for both sides. but it's got to be augmentative to some non-zero amount of independent work to understand the problem/market/etc not a perfect analogy but kind of equivalent to trusting the seller's inspector versus hiring your own when buying a home
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Doing work means you can’t write a term sheet in 15-35 seconds making you uncompetitive for todays market. I don’t know what you don’t understand Chris
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