Demand Down Round Programming Reputation 
ReadWriteStart
JUNE 1, 2020
In very few specific cases, depending on the nature of the business, the business model might demand a considerable gestation period or extensive research and development. Government programs. But, in subsequent rounds of funding inflated valuation will be normalized resulting in a down round. Equity investors.
www.paulgraham.com
APRIL 28, 2010
A lawyer I asked about it said: When the company goes public, the SEC will carefully study all prior issuances of stock by the company and demand that it take immediate action to cure any past violations of securities laws. 5 ] Another danger of less known firms is that, like angels, they haveless reputation to protect.
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