You should care just as much about the terms of your fundraise. There are lots of rights and terms inside of a funding deal that can screw you, no matter how high the valuation is. You're not going to be as good at this as an investor who invests in a bunch of companies. By using standard paperwork, by using a lawyer who actually has done a lot of startup work, you prevent yourself from getting screwed.
Dalton Caldwell and Michael Seibel talk about investor terms and incentives.
To create Rookies Mistakes we asked YC founders: Is there a simple fact you wish you knew when you started your company or a rookie mistake you wish you could take back?
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