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Steph from OpenVC
@stephnass
"$500k committed"? Really? If you're raising on SAFE/notes, only money in da bank counts. 💰 If you're raising a priced round, a term sheet is a commit. But committed DOES NOT MEAN secured. Many VCs have called off an investment after giving a term sheet... 💀 And Verbal Commits? They are 💩.
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