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Bad Notes on Venture Capital

Both Sides of the Table

It’s like we need a finance 101 course for entrepreneurs. There were no metrics. Him: On metrics. In finance they call it “terminal value” but the truth is the price is as arbitrary at your A round as it is at your seed round. So a convertible note was easier. How will you price the next round?

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Bad Notes on VC

Gust

It’s like we need a finance 101 course for entrepreneurs. There were no metrics. Him: On metrics. In finance they call it “terminal value” but the truth is the price is as arbitrary at your A round as it is at your seed round. Less than you’ll probably grant your most junior employees in stock options? Objectively.