Walk the Bridge-Round Decision Without Wishful Thinking

A company has 4.5 months of cash and one critical pilot that could reshape the round. Short runway forces tradeoffs between dilution, morale, and the next proof point. The framework Buy proof, not comfort Judge bridge rounds and cuts by the quality of proof they buy, the dilution they add, and the optionality they preserve. Bad shortcut Raise just enough to feel calmer without a clear milestone plan. Clear milestone use makes emergency capital strategic instead of panicked. A bridge is good when it bridges to proof, not when it merely delays a hard choice. Name the goal What is…

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