Marc Andreessen

And then, you know, they come up with 18 reasons why, and then they, you know, then, you know, I'll really push them on and they're like, well, we're going to have a lockbox and we're going to put the money, you know, it's like, no, you're not like, I've never had the lockbox.

And then, you know, they come up with 18 reasons why, and then they, you know, then, you know, I'll really push them on and they're like, well, we're going to have a lockbox and we're going to put the money, you know, it's like, no, you're not like, I've never had the lockbox.

I've never seen it.

I've never seen it.

Nobody's ever going to do the lockbox.

Nobody's ever going to do the lockbox.

Nobody ever does the lockbox.

Nobody ever does the lockbox.

So back to your question, I would just say, look, I think, I'll come back to high valuation in a second, but I think there's an actual core fundamental linked thing that's very important, which is the amount of money.

So back to your question, I would just say, look, I think, I'll come back to high valuation in a second, but I think there's an actual core fundamental linked thing that's very important, which is the amount of money.

Overfunding is actually just as dangerous or more dangerous than underfunding, number one.

Overfunding is actually just as dangerous or more dangerous than underfunding, number one.

And then number two, look, the problem with these high valuations is like, okay, God help you if you need to clear the bar next time and you can't.

And then number two, look, the problem with these high valuations is like, okay, God help you if you need to clear the bar next time and you can't.

Every round sets a post.

Every round sets a post.

It sets a threshold, a hurdle.

It sets a threshold, a hurdle.

for being able to raise in the future.

for being able to raise in the future.