[ryandamm]

Hi Justin,

Thanks for the article, and putting on a workshop on fundraising. Regarding the workshop -- it seems like the application's only substantial question is "what business metrics do you have to support your beliefs?"

Do you believe there are quality businesses out there who can, should, and will be able to raise an A that don't have obvious metrics? It seems like that sort of question only applies to website- or app-centric companies that have obvious and easily-anagrammable metrics (ARPUs, CAC, churn, etc).

It's my feeling that some of the best, most disruptive companies won't have those metrics if they're operating in another space. (Though I have my bias; my company is one of those, at the moment.)

I fear that spreadsheet-driven investing tends to overfund incremental companies, but won't make the foundational investments required to build new platforms. But again, that's my bias.

Curious for your thoughts -- thanks!