[jordanmessina]

I believe the first point is referring to investors who haven't put money into your company. If you aren't currently raising money, you shouldn't waste your time talking to investors. Raising money is a long process, and can't be done part time. Some might argue that meeting for coffee can help build a relationship with an investor, which would result in making raising easier in the future. However, if your company is worth investing in, these relationships shouldn't matter when it comes time to raise.

The second point is referring to your company's current investors. A monthly update let's those who have a vested interest know where you're at currently, and what you may need help with. Investors should be doing everything they can to help a company. That's why this relationship is important.

[pyre]

> If you're gearing up to raise money or need specific advice

(emphasis mine)

That part makes it seem like they are talking about current investors. How many random investors (that are not currently vested in your company) meet you for coffee and give you specific advice? Maybe this is just a Valley-specific thing?