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Read with a critical eye as I, obviously, wasn't present: in this case it seems likely the Financial Advisor screwed up or simply misunderstood the industry. "Shopping the deal" is only anathema if you've signed a term sheet. Many companies receive/solicit multiple term sheets and accept their favorite.

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Or perhaps the Financial Advisor was also a friend or advisor to the venture capitalist, hence if they got them a really good deal they would have solid well paid work for the next few years.

While possible this doesn't feel likely to me (not that my feelings have any bearing on what actually happened). It would be a breach of fiduciary duty, or at least compromised advice if the advisor wasn't a fiduciary.

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