Hunter Walker

MARCH 10, 2025

Because to some people on the org chart and on the cap table it’s better to use the last $500,000 to take one last growth hack swing than to manage a wind down. I’ve said before this is one reason why we are very very careful about investing in addiction or mental health startups.

Software 87

Software Cap Table Accredited Investor B2C 87

Feld Thoughts

AUGUST 12, 2011

Anytime the financial model indicates that SayAhh will run out of cash, determine how you will raise capital to ensure liquidity and be sure to properly account for the debt or equity transaction on the balance sheet and Cap Table. as a C-Corp in Delaware. Dick and Jane followed Josh’s advice.

Balance Sheet 137

Balance Sheet Forecast Cap Table Early Stage 137

Haystack

AUGUST 18, 2019

Back in 2017, Fred Wilson noted the strategic importance of the seed stage , writing: Seed is really hard. You lose influence as larger investors come into the cap table and start throwing their weight around. Making angel investments, raising small seed funds. You lose way more than you win.

Seed Stage 108

Seed Stage Cap Table Early Stage Malaysia 108

Feld Thoughts

JULY 14, 2015

It usually happens in a later round, when the company is in fact worth much less than the liquidation preference overhang and insiders use a pay-to-play and a low valuation to reset the preferences and the cap table. But in this cycle, I hadn’t seen it in a seed round. It’s not pretty, but it happens.

Recapitalization 70

Recapitalization Pre-Money Valuation Post-Money Valuation Angel Investor 70