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What does he mean here?

One simple piece of advice. If you have TWO offers of financing, the terms you end up with will be MUCH better than if you take the first offer, or only have one offer.

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He's just saying that you can leverage the two investors against each other, letting them fight over who's willing to give you the better deal.

In addition to that, VCs are herd animals. The knowledge that another VC is interested makes it easier for the other VCs to believe that you're hot. (Similar to the article yesterday about hot supermodels.)

And very similar to high school/ college (undergrads?). I wonder if that's the reason charismatic founders end up succeeding.....Jobs, Zuck.....come to mind.

Doh! I literally did not see the word "than" and was wondering how it could be better to have one offer than two.

I've been limiting my time on HN pretty strictly lately and was too hasty there. Thanks.

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