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ESADE Business School Commencement Speech

Steve Blank

Your time at ESADE has trained you to become a global business leader. But the world you lead will be much different from the one your professors knew or your predecessors managed. Yet in the face of all this change, traditional firms continue to embrace a management ethos that values efficiency over innovation. Innovation.

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Flexible VC, a New Model for Companies Targeting Profitability

David Teten

As two fund managers employing Flexible VC, we think it is a healthy addition to the ecosystem and will yield more predictable and stable healthy returns for investors. Too often, investment structures force the management team to make decisions between misaligned growth and investment (return) objectives. Early liquidity.

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Term-sheets and Valuations: Thinking about Negotiations - Startups.

Tim Keane

Good investors use the valuation discussions to gauge the business savvy of the management team and to understand their ability to appreciate and deal with economic market forces that set values.   You can vary both valuation and term-sheet assumptions (in the gray boxes) to assess the impact on the values of the business.