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A great thread on Reddit entitled "Why didn't I get any money from my startup?"

whiz

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amp0193

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An awesome thread for anyone thinking big - it highlights how your shares can become worthless if you take on investors in a foolish manner:

Why didn't I get any money from my startup? - A guide to Liquidation Preferences and Cap Tables : startups

I figured it's fastlane since it has to do with protecting your hard-earned money/time

I've been trying to wrap my head around this stuff, thanks for sharing.

Not mentioned in the write-up... but also make sure to have a damn good lawyer in your corner.
 

whiz

Silver Contributor
Read Millionaire Fastlane
Speedway Pass
Nov 29, 2017
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627
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28
New Jersey
I've been trying to wrap my head around this stuff, thanks for sharing.

Not mentioned in the write-up... but also make sure to have a damn good lawyer in your corner.
Yeah - I found this post to explain it real well.

But you can see how it can get really complicated - this thread was just the surface. So yeah, lawyer up - I bet theres 9383983 ways to get screwed out of your $
 

amp0193

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May 27, 2013
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Yeah - I found this post to explain it real well.

But you can see how it can get really complicated - this thread was just the surface. So yeah, lawyer up - I bet theres 9383983 ways to get screwed out of your $
I didn't know where to start with lawyers, so I asked a local CEO who's been through seed and series A funding rounds who he used, and he gave me a referral to the best one in the metroplex.

So, now I'm saving up for that hefty retainer! First thing I need to do is create our shares, then look at getting my personal shares on a vesting schedule. That was advice given to me by said CEO, that said that investors are going to demand it of you anyways, so it's better to get the clock started on your own terms.
 

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