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The Beauty and Danger of Private Investing
The beauty and danger of private investing is people can have very different views. I've heard back channel from a lot of investors who love the company but don't want to be involved in uncomfortable discussions around the preference stack. And we're in this market right now where companies have got so much capital on their balance sheet that they raised in 21. They don't have any incentives to change price. But if you need the money, trying to do a flat round with multiple liquidation preferences, that's not a flat round.