VICTOR RAPHAEL·Aug 23One Hundred ConversationsThis is the one hundredth piece in this series. There was no plan for it to be a series. The first article was written because something…
VICTOR RAPHAEL·Aug 19The Price Adjustment Mechanism Nobody Explains Until It MattersThe deal had been negotiated in a rising market. The valuation was based on trailing twelve-month revenue, the structure was clean, and…
VICTOR RAPHAEL·Feb 18The Integration Death SpiralMonth 1: “We’ll integrate thoughtfully.” Month 12: Your protocol is dead.
VICTOR RAPHAEL·Jan 15I Just Lost $17 Million — Why Your Earnout Will Never Pay (And How To Get Cash Instead)The Text Message That Broke A Founder
VICTOR RAPHAEL·Jan 8The Hidden Acquirers 15 Companies Shopping For Web3 Startups (That You’ve Never Heard Of)January 8, 2026 | ReFi Ventures Inside Intelligence
VICTOR RAPHAEL·Dec 13, 2025The Founder Who Torpedoed His Own Deal by Hiring a ‘Negotiation ExpertHow bringing in a professional dealmaker destroyed a $95M acquisition and why founders who negotiate themselves close better deals
VICTOR RAPHAEL·Dec 12, 2025The $112M Deal That Closed Because the Founder Said ‘I Don’t Know’ 47 TimesWhy admitting ignorance is the most powerful negotiation tacticand how honesty beats expertise in M&A
VICTOR RAPHAEL·Dec 11, 2025The Acquirer Who Walked Away at Signing Because of What He Saw in the Parking LotHow a founder’s $68M deal died in the final 60 seconds over a detail that had nothing to do with the business
VICTOR RAPHAEL·Dec 9, 2025The Email Typo That Cost $93M And What It Reveals About Deal PsychologyHow a single misplaced decimal point destroyed an acquisition and why the seemingly smallest details can kill the biggest deals
VICTOR RAPHAEL·Dec 8, 2025The Board Member Who Saved Three Exits By Saying ‘No’ at Exactly the Right TimeWhy the best M&A advice is often “don’t sell yet” and how to know when waiting beats closing
