timeline of when they have fully decided to go out and make themselves known to a broader set of people versus competing with a founder who's an established known quantity in the field who is suddenly going to have a competitive term sheet right away

the first phase is where they have not really even decided to be a founder. I just think they're high quality, and I'm hoping that they will get there one day. The second phase is kind of the founder curious phase, and this is a really optimal time t