Disrupting disruption with disruptive disruptions since 2010.
The process of narrowing your target market to a smaller, more specific segment rather than trying to serve everyone. What pivoting looks like when you finally accept your TAM assumptions were delusional.
The overwhelming wave of convertible notes and SAFEs that convert to equity during a priced round, often revealing a far more complex cap table than founders realized. The moment when chickens come home to roost, except the chickens are financial instruments.
The strategy of perfecting product-market fit and unit economics in one market before expanding broadly. It's the anti-blitzscaling approach that prioritizes learning over land grabbing.
When expansion revenue from existing customers exceeds lost revenue from cancellations, the holy grail of SaaS metrics. It's losing customers but somehow making more money anyway.
Preferred stock that must choose between taking its liquidation preference OR converting to common and sharing the remaining proceeds—can't do both. The slightly-less-greedy version of investor terms.
The magical property where your product becomes more valuable as more people use it—or what every social startup claims to have despite zero evidence. True network effects are rarer than honest user growth numbers.
A provision preventing startups from soliciting other offers while negotiating terms, ensuring you can't play investors against each other. The dating equivalent of 'we're exclusive now' after one coffee.