A guide to understanding founder/VC fundraising conversations

VCs:

“Let’s take it from the top” = I have not read your deck

“There’s a lot to unpack here” = I have no idea what you just said

“We’re a very collaborative VC firm” = who else is in?

“Before VC, I was an operator” = I was a product manager for 9 months at YouTube, 10 years after it was acquired

“We can move aggressively” = we’ll take our time unless you’re also talking to Tiger?

“I am fully convicted on this” = no I’m not going to jail, just means I have conviction but that’s how I talk because I’m a VC

Founders:

“We are not raising” = we *are* raising

“It’s early” = the product is not working and the only user is my mom

“Small numbers, but we have deep user engagement” = after much pleading, my mom went from MAU to WAU

“Lots of low-hanging fruits to cut churn” = if there were, we’d have done that *before* fundraising

“We’ve really enjoyed our convos with your firm” = we’ll take your term sheet if it has the highest valuation

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