Cost Cram Down Marketing Vertical 
Steve Blank
NOVEMBER 2, 2009
In times when venture capital is hard to get, investors extract high costs for failure (down-rounds, cram downs , new management teams, shut down the company.) Sales people cost money, and when they’re not bringing in revenue, their wandering in the woods is time consuming, cash-draining and demoralizing.
Haystack
JANUARY 12, 2020
For those following this blog and the seed market over the past decade, you may have noticed that every year, we see increases across the board — more investors, newer funds, and funds that get larger. Rather, this short blog is filled only with my own observations from being in the middle of the evolving seed market since 2013.
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