Sublime

Filtering for the Owner’s Commitment to Sell

no more need to have them enforce our contracts.

Investors have a huge informational advantage over you. They sign these term sheets all the time. They’re experts at controlling companies as minority shareholders. Often the tools they use are hidden in the “special provisions” set of clauses. While you may think these provisions innocuous at the time, they can be activated out of left field when

Perhaps more important than the venture firm itself is the specific partner that leads the investment—because, almost always, the partner who leads the round will join the startup’s board of directors. “We have always, always, always solved for the person joining the board,” Michelle Zatlyn, the co-founder of Cloudflare, told me. “It didn’t matter

Entering a slow-moving market can be a good strategy, but only if you have a definite and realistic plan to take it over.

Gould did not take a title, but had a seat on the executive committee and had four additional board seats, which he filled with his brokers.