Aaron Hi, I think that in my 4 decades raising cash (about $500m), greed has driven the investor more than removal of fear. Most of my investments are pre-revenue, so CAC is not available. But there is still de-resking evidence. I did a video for founders - How to Tell Your Startup Story. I'd love your thoughts. https://thatwastheweek.com/how-to-tell-your-startup-story/