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I think a lot of what he's talking about boils down to basic communication issues.

Venture Capital would be helped by a formal renaming of funding rounds. "Series A" or "Series B" is not indicative of what that money is for. Even "Seed" doesn't really mean anything these days. It would help clarify expectations for founders and VC.

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Fund round naming is basically a joke. I know a guy who raised "pre-seed" money because he thought the amount he was looking for was too small to call a "seed" round. I know another guy on his 4th "seed" round in as many years. The cumulative value of these seed rounds is more than some series A's in the last decade.

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