[streulpita]

This is helpful. Core takeaway at the end: "That suggests that to get the best of both worlds – to minimize the Work Premium as well as the work of running a full fundraise – founders should use pre-emptive offers to run an accelerated, abbreviated process with a handful of select investors. The way to do this is for founders to make sure they are cultivating relationships with a subset of investors they think would be good partners for their company far in advance of their actual raise."