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What Did I Learn From the First VC Check I Ever Wrote?

Both Sides of the Table

I became a VC 12 years ago in 2007 when the pace of deals was much slower. As I was trying to figure out the role I wanted to play in the VC world I decided I wanted to focus on businesses that were building deeply technical products to solve problems for business users. 15 million first checks but we also have three growth funds.

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Bad Notes on Venture Capital

Both Sides of the Table

On the phone … Me: So, you raised venture capital? We raised a seed round. Convertible notes have both features in them but for some reason entrepreneurs don’t understand it. It’s like we need a finance 101 course for entrepreneurs. It’s like we need a finance 101 course for entrepreneurs.

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What is it Like to Negotiate a VC Round?

Both Sides of the Table

” Today I want to talk about how a VC thinks about equity pricing on your round and particularly if you’re coming off of a convertible note. In the old days there usually weren’t convertible notes on early-stage deals and there weren’t party rounds with 20 angels or 6 seed funds. It’s very simple.

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Top 120 Startup Posts for 2010

SoCal CTO

Steve Blank , January 25, 2010 10 Tips for Adding Game Mechanics to a Non-Gaming Service - ReadWriteStart , September 21, 2010 Startups & VCs: Learn How to Design, Market, & Eat Your Own. - First Principles.

Startup 378
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What is the Right Burn Rate at a Startup Company?

Both Sides of the Table

In a world where the economy only heads in one direction (read: 2009-2014) most investors & entrepreneurs forget to pay attention to gross burn. ” Stay lean and only raise a big round if you DO find product / market fit and which point you want to loosen the belt quickly and raise the capital to do so. .”

Startup 383
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How Many Angels is the Right Amount for a Startup to Have?

Both Sides of the Table

One of my favorite entrepreneur-Twitterer weighed in, “You want to keep tapping into their collective intelligence so you keep saying ‘Thank you for the feedback’ and they keep sending it,” Ms. I save room in literally every deal to invite angels (or seed funds) to co-invest with me. Morrill said.

Angel 150
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Some Career Advice for Aspiring Tech CEOs

Both Sides of the Table

For some aspiring to be tech entrepreneurs, I often suggest a two-step process, as I argued in this post that “ The First Startup Founder You Need to Invest in Is You.” I often tell people in this scenario to focus on a VC “fixer upper.” Of course I’m not suggesting people shouldn’t start a company.