That's a fair response, but if I was looking to raise capital, this structure would result in me avoiding your firm regardless of your track record and reputati

That's a fair response, but if I was looking to raise capital, this structure would result in me avoiding your firm regardless of your track record and reputation. The conflicts of interest that this structure creates, perceived and real, would be deal-breakers. Even if you made participation in this structure optional, having to address it as part of a capital raise would add unnecessary complication to what already tends to be a time-consuming and distracting process for entrepreneurs.