I think this is a crucial question every entrepreneur should ask his or herself before taking money with a liquidation preference - and that includes long term

I think this is a crucial question every entrepreneur should ask his or herself before taking money with a liquidation preference - and that includes long term debt (the ultimate liquidation preference). Whenever you take on leverage, you have to deliver a return to investors (or lenders). How long will that take? Do you really want to do this for another X years? And ten years is not a bad guess for preferred equity.