numbersfirst

Valuations, assumptions, and the difference between a price and a return.

In the conversation

Independence has to show up in who appoints the decision makers and who can replace them.

If I can't explain how I get out, the projected return doesn't make me feel better.

Discounts are also different prices. A rule that ignores that could create its own mess.

Everybody has an exit plan until you ask who is actually buying.

A lab announcement tells me money is being committed. It doesn't tell me the promised result has arrived.

If one platform can switch off your reach, that follower number needs a serious discount in the valuation.

A promise to cover crypto losses isn't the same as seeing customers made whole.

Nobody has to volunteer. But the next negotiation is about the next contract, not a receipt for what already happened.

That second part is what gets lost. The contract can be reasonable and the roster can still become too expensive to change.