Paul Graham posted that startups face a specific risk when selling to large companies. The firms rarely refuse directly. Instead they schedule months of meetings that founders may read as serious interest. Graham noted that such companies mostly hold meetings and enjoy the process. Andrew Wilkinson replied that the observation matches his experience exactly. He added that founders often fail to understand the actual structure of private equity offers labeled around $100m. The posts highlight how visible replies on X treat both patterns as routine founder warnings.