Piercing the Corporate Veil of Sweat Equity
grasshopperherder.com
SEPTEMBER 24, 2011
Instead of giving me a valuation that I now have to negotiate, why not just issue me debt and let me buy stock at the seed round valuation (maybe with a risk premium) with that debt. If I can copy your business by just looking around, then your company isn’t going anywhere anyway. You don’t have a defensible business model.
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