The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified cover image

12. Advising Early-Stage Startups (Glenn Gottfried)

The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

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How to Pull the Trigger to Close a Deal

In most of the cases where I'm sitting on the board, I am the designate for the board position that's voted by both classes of stock in almost all cases. In those particular cases, I recognize that I have to build the credibility with that founder and by doing so, developing that trust and relationship and value,. Now they're much more likely to be open to, this is our guy. This is the one we want as our advisor, our board member. So yeah, there'll be situations where it raises half a million convertible. Other cases, it's a priced round preferred shares and I get named as the independent board guy. But if things are stretching out and I think it

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