08/09/2022 - Lewis + Twos Joe
by Joe · 18 things on Twos
- ✓ We need to ask TBV for their signature block soon
- We would require a board seat if we invest $1M total
- You are going to have the term sheet and the SAFE - the SAFE being the deal sheet
- Once the SAFE and the side letter are signed by both parties - we should be talking wiring instructions
- Until Ben says no, we need to treat him like a priority
- They could be learning from this all along
- I don't think Ben's excitement or lack of excitement will influence how Liza feels
- But how you all conduct yourself with him will
- If those dollars are impactful to you accomplishing your end-goal
- If you were building a hardcore enterprise tool and your grandma was in - that would mean nothing to me
- Since it is a consumer app, your friends and family wanting to be in on it, that actually seems valuable to me
- If institutions want to get in, then they will get in. If it is exciting/important enough then they will find a way to get in by pumping it to the seed or just waiting to talk to them in 4 months
- The point of raising the whole round is to raise enough capital where you can prove out and show what you can do with even more capital
- Look at the experiments we've run, look at what we have proven out, now imagine what we could do if we threw some fuel on this fire
- Dig in a little on a case study or two about other companies and whether they leaned on little feature buys or a subscription
- When you think about 100k - 300k I think about the ability to keep going into these investor convos with the ultimate goal being leave with having a new user to impress the shit out of and they will be lining up out of the door
- More Liza's
- Build the most beautiful product possible and wow the shit out of investors who are using it