Business Model IP Pre-Money Valuation Stock 
Tim Keane
JANUARY 12, 2010
3] However, if they are built bottom up, they demonstrate and make explicit a range of business model assumptions the entrepreneur is using to think about his business and its revenue model. An average of these ranges results in a pre-money valuation of about $4MM. stake in the company.
www.paulgraham.com
OCTOBER 23, 2010
Microsofts originalplan was to make money selling programming languages, of all things.Their current business model didnt occur to them until IBM droppedit in their lap five years later. The way to getrich from a startup is to maximize the companys chances of succeeding,not to maximize the amount of stock you retain.
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