The Discipline of Embracing Milestone-Based Funding of Venture Capital

Varda has raised a boatload of money, but mostly put it aside in fixed income interest accounts that basically covered decent amount of our burn. I think it took some discipline, and I even credit my co-founder as funny we were going through this interesting argument over the past two or three days. We're debating this 30K a year investment for over an hour. It's just completely a different world. And so I think we take a prudent approach. But with something like Varda, SpaceX, et cetera, there's no way to do it with true scrapping,. The equivalent of what people have done in software. Ultimately, in order to build a satellite