Disrupting disruption with disruptive disruptions since 2010.
Potential customers or deals that have been vetted and meet specific criteria, as opposed to raw leads. It's the difference between people who downloaded your whitepaper and people actually evaluating a purchase.
IRS tax designation (Section 1202) that can exclude up to $10 million in gains from federal taxes for early startup investors, assuming you navigate the Byzantine requirements. The tax break that makes angel investing slightly less insane.
A financing or exit event that triggers specific contractual provisions in a term sheet, such as conversion of convertible notes or acceleration of vesting. The legal trip-wire that determines when various startup agreements activate.
A minimum funding round size (typically $1-2 million) that triggers the automatic conversion of SAFEs or convertible notes into equity. It's the threshold that separates real funding rounds from friends-and-family pocket change.