Nope.
First, it is always wise to give your future funder a chance to make an insightful remark, that would cause you to answer "that is a great point" with all your facial muscles in the right position.
But really nobody expects you to have all the answers, because you are still a seed/early stage company. However, you must know the range of the possible answers. And you must show how you will get to the answer - usually this is much more revealing of the thought process of an entrepreneur than the simple recitation of a well rehearsed answer.
"What will the LED cost?"
a) "No idea, we will see after we make a few of them"
b) "Between $1 to $3, given the following assumptions for yield profile, wafer cost, process cost,..."
c) "$2.11"
Of course you as an astute reader have selected b) as the best answer.
Comments