they're not quite the same. if you raise an absurd amount of cash -- say $50mm on $500mm pre -- your bar for even a 2x return is over a billion dollars, elimina

they're not quite the same. if you raise an absurd amount of cash -- say $50mm on $500mm pre -- your bar for even a 2x return is over a billion dollars, eliminating virtually all your possible exits. especially in this environment.