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. Employment.
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. At an accelerator …. Not in my experience. A few M&A transactions.
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Tim Keane
JANUARY 12, 2010
A full ratchet anti-dilution clause is very unfriendly to entrepreneurs; it requires them to make up the entire difference in price from their own holdings. However, I assume that the proposed business solves a real problem that people are willing to pay for and that it may be lest costly, more efficient, and IP-protected. [5]
This is going to be BIG.
SEPTEMBER 6, 2019
Sometimes they have various ratchets and other bells and whistles that protect their downside further, like when Square IPO’d. The IP transfer from the founder, his family’s underlying interest in some of the real estate—it might end up being all square, but it just gives people pause.
Startup Lessons Learned
MAY 27, 2020
And while I didn't spend a great deal of time in research, I somehow pivoted into IP licensing, which led me to meet Nadja and we founded YourChoice Therapeutics together, and that's what led to the genesis of ANA Therapeutics. And often what we're seeing in these hydroxychloroquine studies is a big ratcheting of a typical dose.
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