AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
4min chapter
E80: Recession deep dive: VC psychology, macro risks, Tiger Global, predictions and more
All-In with Chamath, Jason, Sacks & Friedberg
What Is Seniority?
If you start a company, and to send you some round numbers, a investor wants to give you ten million dollars to start the company. If you didn't have preferred shares, then the founders could basically, on the day after the money comes in, could say, hey, we want to liquidate the company. So that's why lawyers came with this idea of seniority,. so that, ok, if you disband the company with the investors money still in there, it goes back first to the people who put in the money. That was the idea and oand the second piece was, if the company gets sold for less han the cash put t it, at least the people
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode