If you've negotiated many term sheets for Series A with not even a 1x nonparticipating liquidation preference - impressive. That said, also illogical, why are

If you've negotiated many term sheets for Series A with not even a 1x nonparticipating liquidation preference - impressive. That said, also illogical, why are these investors doing a preferred investment vs common if they don't have a preference? The only people I've run into who can negotiate nonsense contracts are folks playing with other folks money (family etc). I will say I stay far away from those types of folks. Often crazy, and often have enough money to pursue their flights of fancy, including ungrounded legal theories, a good long distance.