Disrupting disruption with disruptive disruptions since 2010.
Wealthy individuals who invest in early-stage startups, either because they see potential or more likely because they're bored and have disposable income.
The total profit a customer generates for your company over their entire relationship—essentially predicting whether they'll be worth the investment to acquire.
The process and cost of getting new users/customers. It's usually the most expensive thing a startup does and also the most important.
The phenomenon where your product becomes more valuable as more people use it—the holy grail of startup strategy because it creates defensible moats.
A space of the market that a powerful VC firm claims as theirs, and they'll kill any startup that tries to compete there. It's legal monopoly behavior with a cute name.
A carefully crafted 60-second monologue designed to convince investors that your app idea will revolutionize humanity, delivered with the energy of someone who hasn't slept in 48 hours.
The first major institutional funding round, typically $2-15 million, where professional VCs finally take your startup seriously. The moment you stop being a 'cool idea' and become a 'company with serious growth ambitions.'
A startup that's past the early stage and trying to grow as fast as possible. It's the phase where you hire thousands of people who aren't sure what the product is.
The amount of money a startup is seeking in a funding round. The question that determines whether you're getting a term sheet or eating ramen while applying to jobs.
The second major funding round, typically $10-50 million, aimed at scaling a product that already has demonstrated traction. Proof that your MVP was more than just a fever dream.
A situation where a startup with good metrics but bad unit economics keeps raising money from VCs who don't do the math. Also called 'raising on hope and a spreadsheet.'
A legal instrument creating a right for investors to purchase equity in a future priced round at favorable terms. Y Combinator's attempt to make early-stage investing 'simple' (it's not).
A founder who prioritizes profitability and sustainable growth over hypergrowth and scale. Basically a unicorn with stripes, or what founders call themselves when they can't attract venture capital.
The order in which classes of stock get paid in an exit event, determining who gets what money from the sale. The reason cap table lawyers exist and make inexplicably high hourly rates.
A division of an established corporation that invests in startups, usually with the goal of finding complementary technology or market opportunities. Big companies' way of seeming innovative without actually being disruptive.
To engage in a battle of wills, skills, or resources against rivals for supremacy, positioning, or bragging rights. The corporate version of 'may the best person win' minus the actual physical combat.
An Excel spreadsheet that startup founders compulsively update every day to determine exactly when they'll run out of money—a real-time anxiety meter.
How you get your product to customers—direct sales, self-serve, partnerships, affiliate networks, etc. Often the secret to success that founders ignore.
To officially embark on a vessel, aircraft, or train after security clearance; also corporate-speak for officially joining a project or organization after onboarding procedures. The moment of no return, metaphorically speaking.
A venture fund's multiple of return—how much capital investors have received back for every dollar they invested. The VC equivalent of 'Did we make money?'
The panic investors feel when they suspect they're about to miss a hot deal or investment opportunity. The invisible hand that closes funding rounds at 11:59 PM on Friday.
The third major funding round, usually $20M-$100M+, designed to accelerate growth and expand into new markets. When 'startup' starts sounding like 'real company' and the pressure becomes genuinely intense.
The sale of existing shares between investors, employees, or founders, rather than new share issuance. The legal way for early employees to cash out without an exit event.
The unofficial group of founders and investors who've experienced a billion-dollar valuation or exit. It's exclusive, pretentious, and they'll definitely mention it.