Josh may have something entirely different in mind but it is a bit of a red flag when an investor wants to tranche a small investment. Part of the art of sizin

Josh may have something entirely different in mind but it is a bit of a red flag when an investor wants to tranche a small investment. Part of the art of sizing your round is to do so in a such a way as to give you a nice bit of running room, but it's much harder to run if you always have to wonder whether there's a brick wall around the corner. The investor is taking a certain amount of risk in making the investment. The way to minimize that investment is to support the team, make intros, execute, etc. Not dole out the cash a bit at a time like a crack dealer. Also, the milestones are already built into the process. The seed round provides enough cash to get you past the first set of milestones. The series A enough to get you past the second. Etc.