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qq: was it not possible to take money off the table? AFAIK, it was common 2020-2021 that even series B raises let founders take some money off.



We just never did it and missed the moment. But honestly I look at it now and founders who have taken money off the table but have not or will not return money to investors...is that a better spot to be in? Because if you throw in the towel then, why would those investors EVER back you again. Maybe if early investors AND founders take some chips off the table you can better align incentives. But this whole secondary movement seems like a manifestation of a "cash is free" market we have been in for some time before the markets turned.




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