Most investors are going to demand standard terms. Any time you go with non-market terms, you better have a very compelling product. And in a down economy that's even more important.
To some degree negotiating a term sheet is like poker. There's some provisions/terms you feel really strongly about, but there are other terms you're secretly willing to sacrifice (as a negotiating tool). And the cardinal rule to bluffing is not telling the other side your true intentions. If I'm the investor, since Mr. Ressi has already stated he'll waive the provisions if necessary, why wouldn't I just demand the provisions be waived?
To some degree negotiating a term sheet is like poker. There's some provisions/terms you feel really strongly about, but there are other terms you're secretly willing to sacrifice (as a negotiating tool). And the cardinal rule to bluffing is not telling the other side your true intentions. If I'm the investor, since Mr. Ressi has already stated he'll waive the provisions if necessary, why wouldn't I just demand the provisions be waived?