What’s the best way to navigate your down round?

Mark Suster (Managing Partner at Upfront Ventures)
What Most People Don’t Understand About How Startup Companies are Valued | Bothsides of the Table

Down rounds are hard. A slight down round is achievable but massive “hair cuts” are very hard to do. For starters most new investors don’t want to piss off existing investors by forcing a lower price because they know they’ll have to work together again in the future. It’s easier to pass and just look at your next deal.