3 ms·
No doubt there's an appropriate timescale where the offer is on the table, and also a time after which the offer is no longer on the table. The same is true for
by theorique 13y ago
No doubt there's an appropriate timescale where the offer is on the table, and also a time after which the offer is no longer on the table. The same is true for job offers, university acceptance, matching with a medical residency, and all sorts of other contracts.
Would it be reasonable for a YC (or other investment) offer to be paired with "decide in an hour or we give it to someone else? Probably not. Would it be reasonable for that timeframe to be a week or two? Probably.
- tptacek 13y agoWhy dignify the comparison? Ruthless withdrawal of a term sheet is simply nothing like canceling a resting limit order. There are two primary reasons: first, it costs tens of thousands of dollars in founder time to obtain the term sheet, and second, because having the term sheet withdrawn creates a signaling problem. Neither of those two things are true, no matter how generous one is with analogies, of resting limit orders.
- 001sky 13y agotptacek--Why are you even in this thread if you're just interjecting rhetorical questions? Both sets of transactions are subject to well known sets of problems. These problems share the same root cause. These are important, fundamental issues with market and market micro-structure. Please don't cross thread you're frustration.
- tptacek 13y agoDespite the question mark, I can't find anything in your comment to reply to. Sorry.