Customer Equity Option Pool Syndication 
Agile VC
APRIL 17, 2011
paying for travel data from ITA or others (customers acquisition spend is not included in COGS). Obviously most of these employees are working hard primarily for equity upside compensation, but Kayak’s personnel costs are roughly $200K/head so the company is highly productive on a per employee basis. 2010 Net Income: $8 million.
David Teten
DECEMBER 3, 2019
Private equity and venture capital investors are copying our sisters in the hedge fund world: we’re trying to automate more of our job. . In the private equity universe, most Partners have primary training as deal-makers, not as managers. This provides us more time to develop meaningful relationships with prospects and customers.
www.paulgraham.com
APRIL 28, 2010
By which I meannot that it has to make something physical, but that it has to haveone thing it sells to many people, rather than doing custom workfor individual clients. Custom work doesnt scale. An advantage of consulting, as a way to develop a product, is thatyou know youre making something at least one customer wants.
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