Marc Andreessen

And like, and you know, this is something that people learn every cycle, you know, kind of for the first time in a hard way.

And like, and you know, this is something that people learn every cycle, you know, kind of for the first time in a hard way.

No new investor wants to do a down round in anybody else's company.

No new investor wants to do a down round in anybody else's company.

If you put the investor hat on and you're like, I'm going to go do a down round in this company because I'm going to be the hero and save the company or whatever, because it raised too high last time.

If you put the investor hat on and you're like, I'm going to go do a down round in this company because I'm going to be the hero and save the company or whatever, because it raised too high last time.

And now I'm going to do the rational investment like

And now I'm going to do the rational investment like

Everybody's just going to hate me.

Everybody's just going to hate me.

The employees are going to hate me.

The employees are going to hate me.

The other investor is going to hate me.

The other investor is going to hate me.

The founders are going to end up hating me.

The founders are going to end up hating me.

Nobody ever does a down round in somebody else's company.

Nobody ever does a down round in somebody else's company.

Setting these posts high is intrinsically a problem.

Setting these posts high is intrinsically a problem.