Deal Flow Lead Investor Sales Silicon Valley 
Both Sides of the Table
MARCH 6, 2011
Jody didn’t exactly have an easy time fund raising because he’s not one of the prototypical Silicon Valley funded entrepreneurs. They dropped their number one selling product and switched to a competitor’s product while managing not to lose a single sale. I ask Naval about the importance of a lead investor.
www.paulgraham.com
APRIL 28, 2010
Youllprobably get either preferred stock, which means stock with extrarights like getting your money back first in a sale, or convertibledebt, which means (on paper) youre lending the company money, andthe debt converts to stock at the next sufficiently big fundinground. [ Some smart, nice guys turn out to be flaky,high-maintenance investors.
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