Been screening a lot of ecom and DTC targets lately, and the same thing keeps happening. The signals that look strongest in the seller's story are the ones that quietly cost the buyer the most. A few patterns I keep running into: A brand ranks #1 organically for its main keyword. Looks like a moat. Then you check the paid results and three competitors are bidding above it at three dollars a click. That's not a moat. It's a CAC problem you inherit the day you close, and it never shows up in the CIM. Branded search is climbing, so the story is "strong brand." But almost all of it traces back to one influencer push or a PR spike that already peaked. Strip that out and the real underlying demand is flat or falling. Reviews are glowing, and volume is high, but the timing clusters in a way real customers don't produce. Once you see the pattern, you can't unsee it. None of this is in the financials, and none of it is something the seller volunteers. You only catch it if you go looking before the LOI, while you still have leverage. Curious what the buyers here actually do about the marketing side pre LOI. Dig into it yourself, pay an agency, or take the seller's word and true it up later? Where do you lose the most time?