When deciding to give a bridge, you need to have a candid talk with the founders about what the bridge will accomplish, typically by having them present some goals and what the startup will look like when this new tranche of capital comes in. Many founders are on what I call the “feature death march,” believing that if they just add two or three more features to a product they will break out. Sometimes this happens. Most times it does not. Some founders are on a “savior search,” believing that if they just add one superstar to their team, everything will fall into place. Typically they think
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