Disrupting disruption with disruptive disruptions since 2010.
Excess stock options or debt that will dilute existing shareholders, hanging over the cap table like a financial storm cloud. Future pain that everyone pretends isn't there.
A reserve of shares set aside to recruit employees with stock options, typically carved out before valuation to dilute founders rather than investors. A necessary evil that feels like robbery when you're calculating founder ownership.
A VC or advisor who has actually built and run companies rather than just invested in them from the sidelines. The startup equivalent of a war veteran versus someone who just played Call of Duty.
The practice where investors force a startup to create or expand the employee option pool before a funding round, effectively diluting founders rather than new investors. It's a clever way to pay employees with founder equity.
The privilege to attend board meetings without voting power, typically granted to smaller investors or advisors. All the tedious meetings with none of the actual authority—basically a corporate internship.
Keeping multiple strategic paths open while committing to none, often praised as strategic flexibility or criticized as inability to make decisions. The business equivalent of dating multiple people because you're 'keeping your options open.'
A proactive sales approach where the company reaches out to potential customers rather than waiting for inbound interest. It's the difference between fishing with a net and hoping fish jump into your boat.
The percentage of a company a VC aims to own to make an investment worthwhile relative to their fund size. It's why large funds often can't invest in your seed round—they need bigger slices.