Steve Blank

APRIL 26, 2022

Cram downs are back – and I’m keeping a list. Except, that is, for the bottom feeders of the Venture Capital business – investors who “ cram down ” their companies. A cram down is different than a down round. You just failed the ethical choice and forever ruined your reputation. They’re Back.

Cram Down 417

Cram Down Founder Venture Capital Recapitalization 417

Both Sides of the Table

MAY 5, 2013

a) doing what is effectively a down round preemptively when I don’t have to, by underpricing my current round in this market vs. b) accepting the market price along with some risk of taking a down round in the future, if I don’t hit my milestones, why would I ever choose b)?” We know that.

Down Round 302

Down Round Cram Down Valuation Reputation 302

Growthink Blog

MAY 23, 2011

The angel then introduces the entrepreneur to his or her wealthy friends and business connections who, based on the good reputation of the referring angel, also invest. Technical progress and market traction are much slower and cost a lot more than anticipated. There are a lot of dark, hard days.

Angel Investor 112

Angel Investor Venture Capital Sweat Equity Cram Down 112