His point on Clarity is also spot on:
> A Pro invests as much money, as many times, for as long as required for the situation to attain Clarity. This Clarity allows only two outcomes, Dead or Liquid. When a Pro declines the invitation to invest in a follow-on round, it means they’ve reached Clarity: In the eyes of the Pro who declines to invest, the company is Dead, their initial stake is worthless. Write it off and move on, no tears, no recriminations.