2min snip

First Principles cover image

Kunal Shah of CRED on “exciting but painful” workplaces, gated digital communities, and employee shareholders

First Principles

NOTE

Venture Debt and Founder's Replaceability

Venture debt choices for companies depend on their confidence in future prospects. It's a company-specific decision if taking on debt to prevent equity dilution is a good choice for loss-making startups. Venture debt companies usually back ventures and it remains to be seen if it's an arbitrage opportunity. Founders should believe they are replaceable and focus on building a team that can lead the company to the next level for sustained growth.

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