Both Sides of the Table

FEBRUARY 25, 2010

We were trying to optimize around a few criteria: price, size of round, number of syndicate partners and, of course, terms. But we weren’t optimizing for dilution – we were building a $1 billion+ company and we wanted the runway to succeed. Conversely I offered the same deal to another entrepreneur who decided to shop around longer.

Technical Review 301

Technical Review Term Sheet Due Diligence Venture Capital 301

Agile VC

JULY 11, 2012

Like any other form of diluting your focus… it occasionally works, but usually doesn’t. I find myself having similar conversations and really appreciate that you’ve written and shared this. Heh… turns out avoiding all these pitfalls is easier said than done. link] Dave Sandrowitz. Really insightful stuff.

Silicon Valley 240

Silicon Valley Carried Interest Cofounder Boston 240

David Teten

JANUARY 19, 2021

Yes, via conversion rights at a valuation cap. Yes, via conversion rights at a valuation cap. As a result, unfounded hockey-stick graphs and unicorn promises give way to financial fluency, realistic expectations, frank conversations about what a business can credibly achieve, and transparency. . Flexible VC: Compensation-based.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Duct Tape Marketing

MAY 22, 2015

Let me tell you, brand value is diluting. So here is a quick look at the ways you can ensure that your online brand reputation shines forever like gold and earns you higher AOVs, bigger ROIs, and ever increasing conversions. How to ensure that each product has at least five reviews. How to manage third-party reviews (off-site).

Reputation 28

Reputation Management Technical Review Syndicate 28

Hunter Walker

SEPTEMBER 5, 2021

I really liked Jason Lemkin’s “ Do You Have a Weak Investor Syndicate ” blog post from earlier in the summer. I’ll give you an example of a conversation I had with a current portfolio company just this week. Startup CEOs Should Test Strength of Cap Table Every ~6 Months To Know Where They Stand. Go read it and then come back here….

Cap Table 123

Cap Table Seed Stage Syndication Syndicate 123

View from Seed

JANUARY 28, 2016

This is the best time to fundraise because that’s when you are able to command a meaningfully higher valuation for your next round to minimize your own dilution. If it looks like early experiments are not going in the right direction, it’s actually easier at this point to have a conversation with us as your investors about what that means.

Cofounder 120

Cofounder Finance Founder Syndicate 120

Hunter Walker

JANUARY 20, 2015

If you just need the money, stick unknown angels in an AngelList Syndicate so they have more limited information rights. Or when an exciting A Round may “dilute” them (no, you own less of something much bigger. Avoid these folks. You can reference check angels just like you would VCs or employees.

Cap Table 48

Cap Table Warrant Syndicate Syndication 48