a16z partner breaks down the three types of risk every VC must evaluate

Price to progress ratio is incredibly mismatched between a 25,000,000 seat. Why am I wrong? Yeah. Well, okay. So first of all, I think as an investor, you have to decide what kind of risk you wanna take. Okay? So that is what we're paid to do. So let's talk through what are the different types of risk. So the first risk is one that you mentioned. That is competitive risk. Can I win this process or not? Okay? The second risk, and this is maybe a slightly less good risk to take but I think still a fine one, is pricing risk. Did I overpay? And again, I think the way that shows up is the difficulty of the next round based on your entry price. Right? Maybe the third risk is, team risk. Can this team actually go the distance? You know, can the company be can they be big enough to fulfill the company's ambitions? Because I think the founder themselves