Back in April, I drove over to Oakland for Bambi Francisco’s Vator Splash to sit down with good friends Renee DiResta and Jonathon Triest about the current state of angel rounds and “pre-seed” funding in and around the Valley today. I knew this would be a fun panel because I’ve known Renee for years and I text with JT about 100 times a day. I love both of these people. And, they’re scary smart about spotting opportunities and reading people. In this chat, the three of us talk for about 20 minutes. I would encourage early-stage founders and investors to play the video and listen in the background. Myself, JT, and Renee invest as the first checks in a company, oftentimes well before the seed firms you’d recognize jump in. “Pre-seed” is now a whole new category, and this is a great discussion to gain more context around it.