Feld Thoughts

FEBRUARY 9, 2016

And, rather than rational and helpful thoughts for entrepreneurs, it often brings out the schadenfreude in even the most talented people. We entrepreneurs have been spinning that line for decades in every boom cycle. I learned this lesson 127 times between 2000 and 2005. It’s simply not true.

Cap Table 70

Cap Table Down Round Liquidation Preference Founder 70

Both Sides of the Table

JUNE 5, 2011

I have conversations with entrepreneurs and other VCs on a daily basis about fund raising, the prices of deals, how much companies should raise, etc. Then you can do a little bit of research and find out that very few companies ever achieve this valuation in a trade sale so you’re clearly gunning for an IPO. It was early 2000.

Pre-Money Valuation 336

Pre-Money Valuation Valuation Silicon Valley Stock 336

Both Sides of the Table

JUNE 22, 2011

This was an audience of mostly first-time entrepreneurs. It is great for entrepreneurs and great for VCs. So here is what I have been telling entrepreneurs privately for the past 6 months. What a bubble means for each entrepreneur. New investors hate down rounds. I believe that. source: Capital IQ.

Saudi Arabia 309

Saudi Arabia Valuation IPO Technical Review 309

David Teten

AUGUST 7, 2019

Likely signs of a Momentum investment: the round is oversubscribed and the entrepreneur has more negotiating leverage than VCs during the closing process. . You could argue that when they were [raising] oversubscribed [VC rounds], Facebook, Google, Amazon, etc., were clearly Momentum, but [in hindsight] they were also Value.”

Venture Capital 60

Venture Capital Valuation Stock NDA 60

Altgate

MARCH 8, 2009

I say ecosystem as opposed to industry because it is not just the VC funds themselves that are imploding, instead the collapse includes entrepreneurs and startups that were funded by VCs, angel investors, service providers like lawyers, bankers and accountants as well as limited partner investors in VC funds. But some will be saved.

Later Stage 34

Later Stage Early Stage Venture Capital Portfolio 34

Scalable Startup

FEBRUARY 1, 2013

And that’s been reflected in the entrepreneurial community, where entrepreneurs, especially between 2000 and 2008, entrepreneurs really only wanted to do — for the most part wanted to do consumer software, because that’s the only software that they could actually get anybody to adopt. But they don’t buy servers. I don’t know.

Software Review 22

Software Review Startup Venture Capital Stock 22