[jpdoctor]

Oh for chrissake: Just release the funding docs and term sheet.

The letter was full of possible half-truths(eg: 'There is no "4x liquidation preference"' does not preclude 3x or 5x or any other number besides 4), so smart employees should be looking until they see the docs.

[pg]

No, he says explicitly it does not get near 4x.

[jpdoctor]

> No, he says explicitly it does not get near 4x.

I chose a phrase as an example (hence the abbrev "eg"): You chose a different phrase.

If you want to instead parse the phrase you chose for half-truths, we can do that. It will not change the substance that there is all sorts of potential for half-truths.

[brodney]

"There is no "4x liquidation preference." (Once again, typical of almost all venture rounds, there is a liquidation preference, but it slides up or down based on a key metric and gets nowhere near 4x.)"

[mdc]

He says it slides but "gets nowhere near 4x". That's clear enough to preclude 5x.

[microtherion]

Maybe it slides right from 3x to 5x ?-)

[jpdoctor]

Or never gets lower than 6x, as another example.