[Alex3917]

I agree with reconsidering whether or not to continue if you're not hitting your milestones. But by raising the minimum amount of money necessary to hit your milestones, you're not giving yourself the ability to reconsider unless you're default alive.

So I guess what I'm saying is that if you're default alive, this strategy makes a lot of sense. But if you're default dead, it seems reckless. E.g. there was nothing structurally wrong with a lot of the companies that got wiped out due to covid, and I'm sure there were lots of founders that would have happily just scaled down for six months or whatever but were locked into agreements that didn't leave them with the ability to do that.