Both Sides of the Table

SEPTEMBER 10, 2021

how on Earth could the venture capital market stand still? One of the most common questions I’m asked by people intrigued by but also scared by venture capital and technology markets is some variant of, “Aren’t technology markets way overvalued? With the enormous changes to our economies and financial markets?—?how

Pre-Money Valuation 471

Pre-Money Valuation Valuation Venture Capital Early Stage 471

Both Sides of the Table

SEPTEMBER 18, 2014

On the phone … Me: So, you raised venture capital? There were no metrics. Him: On metrics. If we priced it based on any metrics your company would likely be worth less than 7 figures at your A round. We raised a seed round. About $1 million. Me: At what price? Him: It wasn’t priced. Me: With a cap?

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

500hats.com

AUGUST 2, 2012

TL:DR : This post aims to recap significant changes in the venture capital industry over the past ten years, and then make some [biased] predictions as to major forces at play in the next five years. However, all three shifts are related and can be summed up simply as: Geeks are Taking Over Venture Capital.

Silicon Valley 74

Silicon Valley Early Stage Venture Capital Valuation 74

Gust

SEPTEMBER 17, 2014

Me: So, you raised venture capital? Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. Him: On metrics.

Liquidation Preference 153

Liquidation Preference Valuation Term Sheet Stock 153

Both Sides of the Table

SEPTEMBER 27, 2010

What do you get when you combine 7 panelist plus one moderator on to a stage for 30 minutes to talk about a serious topic? There are real changes in the venture capital industry and it would have been fun to talk about them. This is evidenced by the current price creep that we’re experiencing for early-stage deals.

Liquidity Event 308

Liquidity Event Silicon Valley Seed Stage Finance 308

ReadWriteStart

APRIL 26, 2012

This from a man who knows from having made bigger investments that are smaller : Duncan Davidson, Managing Director of Menlo Park-based Bullpen Capital. Bullpen is one of a growing number of early-stage funds - or, perhaps more accurately, "earlier-stage," since even his is no longer the first out of the gate.

IPO 115

IPO Stock San Francisco Lean 115

Both Sides of the Table

JANUARY 31, 2010

We raised a seed round of capital in 1999 and our first venture capital round was the first week of March 2000 (e.g. We found a way to make our venture capital last when it shouldn’t have, at around the same time one of my all time favorite New Yorker cartoons was published on this topic. I thought that, too.

Entrepreneur 308

Entrepreneur Silicon Valley San Diego Non-Compete 308