Both Sides of the Table
SEPTEMBER 25, 2010
When I first read Paul Graham’s blog post on “High Resolution&# Financing I read it as a treatise arguing that convertible notes are better than equity. As I’m generally a believer in ‘pricing rounds’ I initially didn’t agree with the premise of the post. Photo credit: D.
View from Seed
MARCH 24, 2021
In this comprehensive template and guide we break down each of the nine core sections in the deck: intro , team , what do you do , is it working , why does it matter (market) , can you be the best in the world (product, growth, financial metrics) , where are you going , what do you want (the ask) , and appendix. ” (Lee Hower).
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Pascal's View
JULY 9, 2017
This is a fundamental issue that does, indeed, boil down to understanding the post-money valuation of a company. At its core, this issue points to the lack of understanding about the importance of post-money valuation by both entrepreneurs and investors.
Both Sides of the Table
OCTOBER 12, 2014
Prorata rights are one of the most important rights of a private market technology investors and yet are seldom fully understood. In the old days there weren’t many fights about whether angels would take their prorata rights in financing rounds. This is for a more complicated reason I call “the mark-up game.”
Both Sides of the Table
JUNE 5, 2011
2 preamble issues having read the comments on TC today: 1: I know that the prices of startup companies is much great in Silicon Valley than in smaller towns / less tech focused areas in the US and the US prices higher than many foreign markets. I can’t control the market. Private markets for stocks are the opposite.
Both Sides of the Table
SEPTEMBER 18, 2014
It’s like we need a finance 101 course for entrepreneurs. Me: There is no rational explanation for valuations of A round companies by ANY objective financial measure. It’s simply what a market is willing to pay based on a future belief that your company will grow and non-linear rates and be worth much more in the future.
Ben's Blog
JULY 16, 2013
What about the efficient market hypothesis? Aren’t markets rational? If markets behave rationally, one might expect the ratio of price to earnings to be reasonably stable over the period (click here for complete data set). In June of 2000, I raised money at an $820M post-money valuation.
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