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Executive Summary: In January 2024, our startup closed a $12M Series A to build an AI agent for contract review. We rode the hype cycle, grew fast, and by Q4 2024 faced a brutal market correction. Revenue was flat, enterprise clients churned, and our next round fell through. This post-mortem analyzes the root causes—from product-market mismatch to the commoditization of LLMs—and documents our pivot to a sustainable model. Key lessons: trust is the only real moat, agents need humans in the loop, ...
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