It's crucial for founders to keep track of how much equity they've sold through SAFEs, as this affects their ownership percentage and future fundraising.

It's crucial for founders to understand their dilution when raising money through SAFEs or convertible notes, as they may end up owning significantly less of the company than expected after a priced round.

Investors want to understand how your situation fits into the broader strategy of your company. They won't just give you money because of a market event; you need to be organized and clear about your value proposition.

It's important to understand the implications of raising a large round, such as giving up control and how it affects future fundraising and equity distribution.

Communication with investors is crucial, as they expect you to turn their investment into a successful business, and maintaining that relationship is key.

Most companies will raise money first on SAFEs or other convertible instruments, which can complicate understanding how much of the company has been sold.

Building relationships with investors is crucial. It's important to keep talking to potential investors even when you don't need their money, as they will build conviction in your company over time.

Every interaction with potential investors is a sales process; it's crucial to understand their motivations and what will make them feel they need to work with you.

Understanding the game you're playing is crucial; selling to startups can be beneficial if you aim to grow with them, but it can be detrimental if your goal is to sell to large companies.