Both Sides of the Table

SEPTEMBER 18, 2014

At an accelerator … 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. Employment.

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

Both Sides of the Table

DECEMBER 13, 2010

Within a year, by late 2000 / early 2001 consulting firms were firing people en masse. On July 27th, 2001 Accenture IPO’s and many of the partners grew fabulously wealthy. Double-down on great people, process & IP. Ameet said, “Don’t worry, we’ll be fine, just wait for the next downturn.&#.

Turkey 302

Turkey Differentiation IP Technical Review 302

Both Sides of the Table

APRIL 27, 2010

Most of what I learned about operating startups I learned from the really tough years at my first company from 2001-2003. My company had raised venture capital in April 2001 but we were told that there may never be any more coming. They seed funded my second company and even let me buy some IP in exchange for debt to get started.

Venture Capital 285

Venture Capital Hiring Software Review Stock Options 285

Both Sides of the Table

FEBRUARY 25, 2010

I lived through this again September 2001. If it’s a biz deal you might care about IP protection, revenue share, investment commitments to joint marketing – whatever. I lived through this again September 2001. Many companies that were in the process of raising money did not. Anybody who didn’t close was dead.

Technical Review 301

Technical Review Term Sheet Due Diligence Venture Capital 301