> Founders often want to “reward” their early investors and find salvage value while investors see major pivots and restructurings as leaving them with free “op

> Founders often want to “reward” their early investors and find salvage value while investors see major pivots and restructurings as leaving them with free “option value.” I think more human, personal elements are probably at play before this conclusion. Moreover, I think this mentality the OP is suggesting is good is actually wrong and actively harmful. > For almost all of them, it won’t be worth it. When things get really messy for seed companies, it’s almost always already a lost cause. The "almost" in this sentence is the actual key. How do you know? By not doing everything you can to find out you run the risk of the opposite reputation: Gives up easily, not willing to put in the work, fair weather founder, etc.