Originally posted on TechCrunch: [tc_contributor_byline slug=”jason-lemkin”] We read a lot about the seemingly 50-plus eight-figure venture rounds happening every day. All those great stories; this Razor-a-Day company raising at $600 million, that Valets-for-Pets company raising at $400 million. And we see a lot of advice on how to put together a good deck, do a good pitch, etc. What I’ve rarely seen is founder advice on why deals fall apart post-term sheet. And, it turns out, this happens a lot more than you might realize. Especially these days, when timing is so compressed. In the old days when I raised money for my startups (’02, ’05, ’08), the VCs had tons of time, weeks or more, to do due diligence (i.e., to learn more about a company in which they are interested in investing). Today, term sheets are often issued just days, or even hours, after the first meeting. This means that due diligence is really done… View original 1,078 more words