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E125: SpaceX launch, Fox News settlement, "Zombie-corn" exodus to AI, late-stage implosion
All-In with Chamath, Jason, Sacks & Friedberg
The Implosion of Startups
A lot of series C and later companies have a valuation that's less than their preference stack. So if the company ends up being worth less than the money that they've invested, they get the money first. And ultimately, if the company goes public or gets sold, they can convert their what are called preferred shares into common shares and participate.
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