Feld Thoughts

JULY 14, 2015

So they recapitalize the company. In some cases this turned into nothing, but in a few cases it had magnificent outcomes for me and my gang, along with the entrepreneurs. The entrepreneur and the VC may not care at all, and that’s fine with us, but we’ll remember the behavior for a long time.

Recapitalization 70

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

abovethecrowd.com

APRIL 20, 2016

Many modern entrepreneurs have limited exposure to the notion of failure or layoffs because it has been so long since these things were common in the industry. This severely heightens the risk of either running out of money or a complete recapitalization that wipes out previous shareholders (founder, employees, and investors alike).

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

Both Sides of the Table

MARCH 1, 2010

I call it the entrepreneur thesis. I’m not talk about the age old debate amongst investors whether you back entrepreneurs, markets or products (or as people like to hedge – product / market fit). It’s entrepreneurs I back. It’s what I call the “entrepreneur thesis.” So what is the “entrepreneur thesis?”

Entrepreneur 321

Entrepreneur Warrant Silicon Valley Early Stage 321