Both Sides of the Table

JULY 27, 2013

My internal compass says that “country-club” entrepreneurs struggle to make as big of an impact because it’s really hard to totally change a system that you’re part of and have a vested interest in. and if you haven’t seen 20 Feet From Stardom , which this founder talks about in his letter to Seth, you must.

Churn Rate 371

Churn Rate Vesting Viral eCommerce 371

Both Sides of the Table

SEPTEMBER 29, 2013

” From the hyperbolic Jason Calacanis weighing in that “The petty VC’s did everything to deride [Naval, the co-founder of AngelList]” as though the industry was collectively s g its pants that AngelList was going to put us out of business. founder fighting. founder fighting. Both are right.

Syndicate 356

Syndicate Syndication Cofounder Early Stage 356

Both Sides of the Table

AUGUST 18, 2009

Yesterday I wrote a blog post ( here ) in which I urged people to not have too many founders. These situations are only compounded if you have 3 or more founders. I know that many people reading this will be in companies with 3+ founders and aren’t having any friction. They agreed to all be co-founders.

Founder 251

Founder Cofounder Equity Stock Options 251

Both Sides of the Table

MAY 7, 2016

My internal compass says that “country-club” entrepreneurs struggle to make as big of an impact because it’s really hard to totally change a system that you’re part of and have a vested interest in. Another predictable sign of hubris in startups is when the founders start looking for other companies to buy.

Churn Rate 150

Churn Rate Vesting Dilution Europe 150

Both Sides of the Table

JUNE 18, 2015

And even this can’t stop their employees from fleeing after two years of vesting to move on to the next hot startup. Of course your friend’s company raised $50 million and offers it’s employees free kombucha and desk massages. For investors life is no different.

Software Review 150

Software Review Turkey Portfolio Syndicate 150

Both Sides of the Table

FEBRUARY 10, 2011

The interesting thing about working with angels (the tech founder kind) is that they’ve all run their own startups before so there is instant resonance with what you’re going through, the issues you’ll face and how to best help. Founders need to see eye-to-eye or things will be very difficult.

Angel Investor 302

Angel Investor Cofounder Southern California .Net 302

Both Sides of the Table

SEPTEMBER 27, 2012

A Strong Pool of Tech Founders – Stating the obvious. Eric Paley , managing partner at Founder Collective , told me that they had implemented a city-wide program in Boston to help local university students get internships at local tech startups. And they have a vested interest in this success. Here are mine: 1.

Community 378

Community San Diego Silicon Valley Los Angeles 378

Both Sides of the Table

MAY 10, 2015

I often speak about co-founder fighting and how this ends in lawsuits but this has become much more prevalent. I’d encourage you to watch this quick 3-minute video with some views on what I call “ The Co-Founder Mythology ” that is perpetuated in Silicon Valley. Lawsuits are particularly common amongst co-founders.

Vesting 150

Vesting Cofounder IP Stock Options 150

Both Sides of the Table

MAY 5, 2011

I gave him the same advice I give nearly all over-worked, control-freak, do-everything-yourself startup founders: “Your number one priority isn’t any of these things. There’s you and your killer CTO co-founder. It’s a very cool vibe at Founder’s Coop. Passionate Entrepreneurs & Ambassadors.

Seattle 317

Seattle Silicon Valley Technical Review Los Angeles 317

Both Sides of the Table

MAY 13, 2010

Take Jerry Yang, the co-founder of Yahoo! And in public companies we used to mockingly rename their titles to CVO … Chief Vesting Officer. Bad leaders want to be loved too much and their companies (or countries) suffer. I never worked at Yahoo! and I only met Jerry once. But his role as “Chief Yahoo!&#

Entrepreneur 330

Entrepreneur Silicon Valley United States Technical Review 330

Both Sides of the Table

MARCH 10, 2013

Founders have to live with the day-to-day consequences of their decisions and are closer to the nuances of the business. He had vested 18 months or so. Then on top of that I proposed we offered 2-3 weeks of pay (with a view of settling around 4 weeks) and that we vest an extra 3 months. That’s how I see the role of a VC.

Vesting 344

Vesting Cofounder Salary Sales 344

Both Sides of the Table

OCTOBER 29, 2009

delivers significant revenues (which they share with the publishers) then the people who are driving real revenue for themselves have a vested interest in staying with Twitter. The Founder & CEO of Ad.ly It creates free innovation on your platform that drives user growth and engagement. 30% is the market opportunity.

Technical Review 286

Technical Review Advertising Early Stage Internet 286

Both Sides of the Table

MAY 13, 2013

I’m supposed to believe that my best innovation can only come from scores of startup founders who just made millions and have now become CVOs at my company? Chief Vesting Officers)? ” Mark – doesn’t the acquiring company mostly care about the super innovative founders? The Aqui-hire Business.

Liquidation Preference 357

Liquidation Preference Early Stage Retention Lock-up Period 357

Both Sides of the Table

JULY 16, 2013

And revisit my point about whether you are the archetypal founder who will get tons of money thrust upon you. For all others please know that your VC has a vested interest in your trying to go big or go home. I tell the founders I work with, “Listen, our incentives aren’t always 100% aligned. Your VC is right.

Burn Rate 412

Burn Rate Dilution Revenue Valuation 412

Both Sides of the Table

JULY 19, 2015

I felt this myself as we went from a few founders huddled into a tiny room to the front page of the Financial Times, an influx of VC interest, magazine covers, invitations to high-profile events and the pressures of trying to live up to this perception and the economic opportunities everybody expected. Every founder knows this.

Houston 150

Houston Vesting Founder Capital Call 150

Both Sides of the Table

SEPTEMBER 18, 2014

I know how to structure around that to protect the founders from getting screwed on a multiple liquidation preference. But most VCs don’t bother so many convertible note founders get screwed and never know it until they sell their companies. of the time I have no vested interest in having the debate. My colleague: Whoa.

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

Both Sides of the Table

APRIL 22, 2010

It’s still important advice for startup founders and something that I’m passionate about. You’re a startup founder. You start fighting with your co-founder whom you thought you understood. And he has already vested 75% of his stock options at your company. This is part of my startup advice series.

Hiring 392

Hiring Employee Vesting Silicon Valley 392

Both Sides of the Table

MAY 17, 2012

I guess my thoughts are that if you’re part of the country club you have a vested interest in protecting the existing order and that disruption happens more from those that are on the outside wanting to change the rules. I’m ok with founders who have “father issues.” It’s something I kind of seek out.

Vesting 336

Vesting IP Restful Entrepreneur 336

Both Sides of the Table

AUGUST 30, 2010

Let me preface by saying I obviously have a vested interest in being wrong about tough times ahead but as the old saying goes, “hope for best, plan for the worst.”. Let me preface by saying I obviously have a vested interest in being wrong about tough times ahead but as the old saying goes, “hope for best, plan for the worst.”.

Entrepreneur 298

Entrepreneur Technical Review Balance Sheet Government 298

Both Sides of the Table

MAY 19, 2018

VCs (and LPs) have a vested interest in having more data, whether they want to invest in your company / firm or not. I never thought of this until I became the Founder & CEO of my first startup company. Asking for the data room is the easiest way to get off the hook for a few weeks while seemingly making progress.

Cap Table 336

Cap Table Due Diligence Forecast Churn Rate 336

Both Sides of the Table

NOVEMBER 4, 2009

Stock vests for 4 years. Best to be a founder. You get 1%, you sell for $150 million and it’s in 3 years (e.g. you won the lottery). That’s an after-tax gain of $287,500 / year for 2 years. Wait a second. You didn’t get acceleration on a change of control? Sorry bud. Very few people can do this.

Stock Options 418

Stock Options Stock Liquidation Preference Option Pool 418

Both Sides of the Table

APRIL 21, 2010

If I ever say anything less than positive, I have no vested interests in doing so. I spent a bunch of time with Co-founders Alex Bard and Gary Benitt. Assistly “Multi-channel customer support and management service&# – this is another industry I love and I specifically love the team at Assistly. 5.0mm in Series B.

Venture Capital 265

Venture Capital Social Network Angel Investor Chad 265

Both Sides of the Table

FEBRUARY 14, 2016

” “Mark has a vested interest in talking down valuations of startups.” Many founders don’t understand why inside rounds are so difficult. Also, new investors will be worried that the down round will cause founders or senior management to depart and no VC wants to replace management.

Valuation 150

Valuation Down Round Startup Later Stage 150