Both Sides of the Table

SEPTEMBER 18, 2014

At an accelerator … Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. Your A round?

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

Gust

SEPTEMBER 17, 2014

Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. There were no metrics. Him: On metrics. Your A round?

Liquidation Preference 153

Liquidation Preference Valuation Term Sheet Stock 153

Tim Keane

JANUARY 12, 2010

Especially in situations where the founders have a large position and are key employees, it is not uncommon for investors to request that they agree to have some portion of their holdings vest on a schedule.   For the sake of this discussion it’s the method rather than the specific metric that is important. [2]

Term Sheet 68

Term Sheet Valuation Dividend Liquidation Preference 68

Startup Lessons Learned

MAY 7, 2009

As the product matured, they were able to ratchet up the quality to prevent regression on features that had been truly embraced by their customers. Starting instead from a position where feedback cycle time is the priority and allowing quality to ratchet up as the product matures provides a more natural lead in to continuous deployment.

Continuous Deployment 131

Continuous Deployment San Francisco Software Review Lean 131

Startup Lessons Learned

DECEMBER 7, 2008

It also helps ratchet down the pressure, since so many of the interruptions that plague the typical hacker are actually the same bugs recurring over and over. Our online media company is small, we have 6 employees, great proven leaders, great talent, great cashflow. Startup Lessons Learned - the Conference (April 23.

Software Review 94

Software Review Technical Review Part-Time VPE San Francisco 94

abovethecrowd.com

APRIL 20, 2016

All Unicorn participants — founders, company employees, venture investors and their limited partners (LPs) — are seeing their fortunes put at risk from the very nature of the Unicorn phenomenon itself. Anything that hints of a down round brings questions about the success metrics that have already been “booked.”

IPO 40

IPO Term Sheet Silicon Valley Valuation 40