Starburst has a high-risk equity profile: $1B secondary vs $3.35B primary is a flashing signal.Read more

Preset's equity carries a negative probability-weighted expected upside of approximately -17%, driven primarily by a severe preference stack — $55.7M in total funding almost certainly exceeds the company's current market value (estimated ~$48M based on Series C implied terms) — which eliminates common equity participation in any exit below ~$55.7M.Read more