This structure may align your incentives with angel investors
VCs are having a tough time raising money; Angels may be topping out
'Things like participating preferred shares and dividents and multiples make this even worse'
Shares give back half their gains, after catapulting six-fold in 18 months
Lean is a state of mind that a founder and his/her team needs to have across all aspects of business
As the current financing gold rush fizzles, the use of convertible debt will wane
I don't think competitors kill companies and services. I think the vast majority of "deaths" are sel
First, try to keep dilution below 20%; Second, raise 12 to 18 months cash each time...
Equipment financing or development for equity are two reasonably common examples
Customer financing is much more difficult, if not impossible, in consumer-facing services
These grants are essentially 'free money'
Use a convertible note with a discount and a cap on the valuation
There isn't a better way to drive usage and retention than email
Imitation is the best form of flattery... So, be prepared for it
We invest in both, but there significant differences between the two