Liz Zalman, a founder and coauthor of Founder vs. Investor, shares her candid experiences with tough term sheets and the stress of last-minute deal changes. Jerry Neumann, an investor and coauthor, discusses why VCs sometimes retract offers, citing fear and career risks. Seth Winterroth, an Oxide investor, highlights the importance of supportive investor relationships during crises. Together, they dive into the nuances of founder-investor dynamics, board responsibilities, and the value of transparency in negotiations.