Spot on. The only thing I'd extend this with - but with some hesitation - is demonstrated traction. People are using your product, even a very very early versi

Spot on. The only thing I'd extend this with - but with some hesitation - is demonstrated traction. People are using your product, even a very very early version. (The reason for the extension is many social media apps don't monetize for a long while, and users seems as adequate substitute for revenue here.)