Some people might see the best deal of best deal available. It's kind of two sides of the same coin, depending on what side you're offering. I'm starting to have a little PTSD from the first time around. We've seen deals at two and a half X off the top. And we've seen participating preferred for those of you who remember that,. Even in normal financing rounds and obviously we're seeing down rounds.
Jason is joined by FirstMark Capital’s Rick Heitzmann, who started his investment career in 1999. They discuss “sobering up” after the 14-year bull run (1:55), Airbnb’s response to the downturn (7:38), how senior leaders must act as shock absorbers for their founders (26:30), and more!
(0:00) Jason kicks off the show
(1:55) Rick’s experience of the “Speculative Asset Bubble”
(7:38) Airbnb’s reaction to the downturn
(11:33) LinkedIn Jobs - Go to https://linkedIn.com/angel and post your first job for free
(12:58) Rick’s memory of the Dot Com bubble
(19:39) Advice for founders in a downturn
(22:27) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist
(23:29) How CAC and LTV have changed
(26:30) The emotional state of Founders and keeping them focused
(35:09) Term sheets in the Dot Com era and today
(40:06) Letterhead - get 50% off their first year at tryletterhead.com/twist
(41:21) Different forms of exits + Key attributes in founders
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