...the early stages, say like seed or pre seed, which deal terms actually matter and which ones do you think are just noise? So we only invest at the pre seed stage. A lot of it is on safe notes and the caps matter. But ultimately with the safe note, it

...supplant early revenue. If this is a business that's operating in an industry where there are really long sales cycles, we will accept and we're understanding of the nuances and dynamics of different businesses because we tend to play things that are