To me, the ideal hangout has a few components: spontaneity, purposelessness, and a willingness among all parties involved to go wherever the conversation leads them.
If you are GP and raising a fund now - your first slide should have two points on it -
1) How long have you been in business
2) what’s your dpi
All other points can come later.
Define the user journey before you define the feature.
Who is the user? — How would you classify this group of people? What do they care about? What are their habits?
What problems do they encounter? — What do they want to achieve? What are their pain points? How do they think and behave? What evidence do we have for believing this?