Participating Preferred Startup Syndication Venture Capital 
Professor VC
JULY 25, 2013
Mike Markkula presenting Steve Jobs with first investment in Apple I recently watched an excellent documentary on PBS, Something Ventured: Risk, Reward, and the Original Venture Capitalists. Startup outcomes tend to be very binary. AngelList (which I remain a big fan) also recently launched a syndicate program.
Professor VC
JUNE 6, 2016
However, in my 25 years in the Silicon Valley startup ecosystem, I've experienced the VC corollary to the golden rule much more often: "He has the gold makes the rules!" I can just picture Mr. Rogers saying "Children, can you say participating preferred stock with an uncapped 3x liquidation preference and a full ratchet?"
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