Oren Klaff

You can get enough people into your process and have them interested.

Then you have much less risk saying, here's the LOI we're interested in doing.

If it's outside the bounds for you, we totally understand.

We'll move on.

So that's the number one forcing function is, you know, and many, it's not as familiar for startups, but really most of the capital markets work that way, right?

Here's our deal, right?

This is our subscription.

You know, here's our sub docs.

Here's our, you know, closing documents.

You can sign up for this or not.

It's not we're waiting for an LOI to come in.

And so the second one is to not get involved with an LOI that is sort of a typical valley.

One paragraph.

We're interested in investing in the company, you know, up to $10 million, you know, at a valuation range of up to $15 million.

based on normal due diligence processes.

That's not an LOI, right?

And so the second force of function is really having enough meat in the LOI that it can then be translated fairly easily into a definitive agreement.

So that's the second one.

And I think the third and maybe the most important one is saying, hey, on this date,

We're accepting LOIs and beyond that, you're out and we're moving forward with people across that threshold, right?