Can an entrepreneur back out of a signed term sheet without damaging his/her reputation? I’m going to say Yes, probably. There is a lot of drama around broken term sheets. Mostly around VCs backing out, not founders. But here’s the thing — term sheet are term sheets....

Q: What is the proper way to do due diligence on a VC firm? Here are the things IMHO and IME that are most important. First, if you want to do it right, you should diligence both (1) the firm and (2) the individual partner leading the deal. Importantly, these days,...