Impressive data synthesis on how Reg CF matured from experiment to repeatable system. The shift toward institutionally-anchored rounds is kinda validating what smaller angels have been saying for years about signal quality mattering more than pure volume. Seeing portals deploy ML-based scoring to predict outcomes is fascinatingbut also raises questions about whether that risk-sorting becomes self-fulfilling. When I worked with earlystage issuers, the ones who understood their investor archetype before launch consistently outperformed.
Impressive data synthesis on how Reg CF matured from experiment to repeatable system. The shift toward institutionally-anchored rounds is kinda validating what smaller angels have been saying for years about signal quality mattering more than pure volume. Seeing portals deploy ML-based scoring to predict outcomes is fascinatingbut also raises questions about whether that risk-sorting becomes self-fulfilling. When I worked with earlystage issuers, the ones who understood their investor archetype before launch consistently outperformed.
Great note! I think your final point is a key one: issuers who understand their investor archetype before launch will outperform!