I’m really, really excited to have Frederik Mijnhardt, the CEO and Co-founder of Secfi on Panic today. Frederik and Secfi (Social Leverage Fund III) are an incredible educational resource and service for founders and startup employees. I’ve talked about, tweeted about, and written about how important it is for those early startup employees to deal with liquidity and things like exercising their options in a tax-efficient way. Startup equity is complex. COVID had many startup employees learning the hard way – and more recently with the Series I at Stripe, noted for both its size, and its tender offer coming in at 50 percent lower than the previous round. As we continue to see more of these “down rounds” and lackluster IPO windows, Frederik and his team are helping employees make the most of their equity and make more informed decisions. I’ll say it again – this is an important topic so please forward this to anyone you know that founded or works at a startup – whether it’s a company that has just raised a seed round or a company on its way to an IPO. 

Guest - Frederik Mijnhardt, CEO and Co-Founder at SecFi 

howardlindzon.com, secfi.com 

Twitter: @howardlindzon, @AFMijnhardt, @AskSecfi, @PanicwFriends, @knutjensen 

linkedin.com/in/mijnhardt 

#fintech #invest #investment #venturecapital #stockmarket #finance 

Show Notes: 

• Introduction. (00:37)
• Welcome Frederik (08:07)
• About Secfi (08:36)
• The Stripe case (09:18)
• How startup employees should think (13:39)
• Thoughts for founders (17:00)
• Investing in an up market (19:18)
• Exercising your options (19:50)
• Tax traps (21:38)
• Educating employees (22:42)
• Transparency (First time founders v. serial entrepreneurs) (24:08)
• Problems in the industry (24:46)
• Software company multiples (26:43)
• Watching your money (28:43)
• The next bull market (33:34)
• Wealthy on paper (35:16)
• Employee equity by country (37:28)
• Great companies are built in a downturn (43:40)
• Wrapping up (45:14)
• Closing thoughts. (46:30)