Investing in a Company for a Second Time Is a Follow on Investment

The idea is that each round or each stage there should be some meaningful progress right like what kind of progress and steps would you be looking at obviously it's kind of hard to talk about in a general case. So following on is is tricky right so when you invest in a company for a second time that's generally referred to as a follow on investment. Some investors out there who no matter what they invested in rad bitcoin company dot x y z in the pre-seed round okay if we fail to deliver now if we burned that 250 000 by the way the first thing that we did after we hired that one dev was we went out and we dumped like 60 grand sponsoring a conference, he says