> I'd close the first, say, $200k from the first reasonably good investors that offer it on reasonable terms--say a $5 million pre-money valuation or higher. This removes some uncertainty and pressure, gives you capital to execute with while raising the rest of your round, puts you in a stronger position, etc. It's worth a discount for all of this.

Wow 5MM pre-money for seed is considered reasonable (and considered a discount) nowadays? Or have I misinterpreted?