We had plenty of conversations with many of these folks; I'm pretty sure that they had their questions answered and understood the business. I don't think there was a lingering resentment at a probably-forgotten request that was never mentioned again.

But in the course of those conversations, their reason for passing also became clear - generalizing across the group, they were used to more traditional investments like restaurants and real estate. Not coincidentally, investments for which a business plan is both a sensible and standard document. They passed because our profile (tech company swinging for the fences) wasn't the right fit for them.