> exiting holders are reluctant to accept dilution by taking adequate funding now. The new investors would get a better price than them and erode their share of

> exiting holders are reluctant to accept dilution by taking adequate funding now. The new investors would get a better price than them and erode their share of the company excessively, so they'd rather push management to raise less, cut costs, and try to limp through to better times. This is the case for my employer