Gust

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Bad Notes on VC

Gust

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. You’ll find out the minimum when the next round is raised.

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Valuations 101: Scorecard Valuation Methodology

Gust

Is the founder coachable? This article was originally written in May 2001, revised extensively in January 2011 and again October 2011. Experience in sales or technology. — No business experience. Willing to step aside, if necessary, for an experienced CEO. — Unwilling. — No. How complete is the management team? -.

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