A 1x liquidation preference (meaning investors get their money back before employees and other investors “below them in the capital stack” get anything) is most common. A 1.5x preference is less common. A 2x preference is rare in VC (more common in growth equity). Anything more than that is extremely rare, and a startup that was hot at the time (meaning multiple investors were competing to invest) would likely not give investors anything more. A 5x pref is unheard of. There are other types of preferences too - google “participating preferred stock” to learn more.

The trick I developed in my previous job writing investment memos (which are just essays) is to create an increasingly detailed outline until the complete report has suddenly materialized before your eyes, with only the final step of tying together your notes in complete sentences required.

Only in the last couple years did I realize you could buy t shirts you like instead of just wearing giveaways you have accumulated.

Reasonable updates all around! The reality is that private investing is the "big leagues." If an average joe takes a handoff in an NFL game, they will likely end up on a stretcher. If you have no expertise and attempt to invest with a sophisticated PE/HF that has the world's top law firms and investment banks on their side, you will end up with no money despite how smart you think you may be.

China's economic development comes to mind but curious of other contenders.

I LOLed at the attempt to prove that facts do not persuade by linking to a bunch of psychology studies. And not one reference to Aristotle? However, the author's general thrust is correct, as anybody could tell you.