Wow. Great article.

I'm so glad he mentioned this - my eyes glaze over every time I hear stats like "yeah, we're awesome, we're in a X billion dollar market":

"[Don't] claim that you're in a multi-billion dollar market. Isn't every company in a multi-billion market according to some study? At least every company that's ever pitched a venture capitalist."

No. 5 is important, as well as a corollary: make sure they've not already funded a competitor or similar firm.