@@FeeltheBoot I actually was wondering if you could go deeper into the reverse vesting clause. We meet a lawyer that proposed us to draft one where, in case one of us quits after the cliff period, non vested shares had to be given back for 0 (standard) but then the company had the right to buy back the vested shares at market price... I said no, but I would be then interest to learn more about what are common clauses that manage on of the founders quitting, under good or bad terms, or what kind of protections can be expected by the founder incase of unforeseen factor that leads to quitting (disease, run over a bus), and what can be done to protect our families rights without endangering the future of the company.
I am a year late to this but wanted to say it's great! Easy to understand while at the same time providing more useful details than other videos on this topic (that are filled with confusing jargon)
Great to hear! I try to keep things simple and include everything you need to know! Most of these episodes are evergreen, so it doesn't matter when you find them. 😁
@@FeeltheBoot awesome, so glad to hear that! If you could create an equivalent (perhaps mini version) video to this one but for angel deals that would be amazing. Thanks!
@@FeeltheBoot yeah those instruments as I was mainly thinking of very early stage startups raising their first money from professional investors but I guess you could include some comments on priced rounds (maybe the potential issues with deal terms would be similar to a VC round though). Thanks!
Awesome video! Very comprehensive. Quick question - I’ve bootstrapped my startup for $35k in 2yrs. We’re going through a ‘morph’ and creating a new legal entity. How acceptable is it for the Founder to be owed debt by the company?
It depends (I know, real helpful 😏) It is not ideal, but also not a problem if it is not structured to get repaid in the short term. As an angel, I would not want my investment to go to paying back the founder. If this is a long-term debt that would get repaid when the company is financially strong, it would not be an issue.
omg, great video! just wondering, what are some things to look for in term sheets in series A, as opposed to series B? it seems like a lot of things are the same, but i feel like there must be a bunch of stuff that must be different as well. also, know of any good resources on this? most of the stuff i've found deal only with series A term sheets.
Most of the terms will be the same, but typically you have more lawyers putting in more detail as the rounds go on. In a seed round, you need a competent attorney. By the B round, you need a startup rockstar lawyer. There will be a bunch of side voting agreements and other complications.
What are the worst investment terms you have seen?
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Great video! This was Venture Deals distilled.
Thanks, there is so much to say on this topic!
Amazing, the most comprehensive video about deals I have seen so far! Thank you!!!
I'm so glad you found it helpful. Let me know what other topics you would like to see.
@@FeeltheBoot I actually was wondering if you could go deeper into the reverse vesting clause. We meet a lawyer that proposed us to draft one where, in case one of us quits after the cliff period, non vested shares had to be given back for 0 (standard) but then the company had the right to buy back the vested shares at market price... I said no, but I would be then interest to learn more about what are common clauses that manage on of the founders quitting, under good or bad terms, or what kind of protections can be expected by the founder incase of unforeseen factor that leads to quitting (disease, run over a bus), and what can be done to protect our families rights without endangering the future of the company.
Great thought, I will put it on the list!
I really enjoyed this video!
Thanks!
Thanks Lance. This is gold! 🙏🏻🙏🏻
Glad you enjoyed it!
I am a year late to this but wanted to say it's great! Easy to understand while at the same time providing more useful details than other videos on this topic (that are filled with confusing jargon)
Great to hear! I try to keep things simple and include everything you need to know! Most of these episodes are evergreen, so it doesn't matter when you find them. 😁
Great! 🙌
Thanks! Have you gotten hit with any of these?
Thanks so much - this was very useful!
So glad!
The only useful video I've watched in life 🙌🙌🙌
Wow, thanks!
So helpful! Thank you! Please keep creating these videos :)
Thanks! I have so many topics still to cover so expect the videos to keep coming for quite a while. 😅
@@FeeltheBoot awesome, so glad to hear that! If you could create an equivalent (perhaps mini version) video to this one but for angel deals that would be amazing. Thanks!
Are you thinking of SAFE and convertible note deals?
@@FeeltheBoot yeah those instruments as I was mainly thinking of very early stage startups raising their first money from professional investors but I guess you could include some comments on priced rounds (maybe the potential issues with deal terms would be similar to a VC round though). Thanks!
Excellent, I will put that on the list. :)
So helpful. Thanks so much
My pleasure. Let me know what other topics I should cover. You can see everything I have done so far at www.FeelTheBoot.com
Thanks Lance ✌️
You bet!
thanks
You're welcome!
Awesome video! Very comprehensive.
Quick question - I’ve bootstrapped my startup for $35k in 2yrs. We’re going through a ‘morph’ and creating a new legal entity. How acceptable is it for the Founder to be owed debt by the company?
It depends (I know, real helpful 😏)
It is not ideal, but also not a problem if it is not structured to get repaid in the short term.
As an angel, I would not want my investment to go to paying back the founder. If this is a long-term debt that would get repaid when the company is financially strong, it would not be an issue.
omg, great video! just wondering, what are some things to look for in term sheets in series A, as opposed to series B? it seems like a lot of things are the same, but i feel like there must be a bunch of stuff that must be different as well. also, know of any good resources on this? most of the stuff i've found deal only with series A term sheets.
i just subscribed!
Most of the terms will be the same, but typically you have more lawyers putting in more detail as the rounds go on. In a seed round, you need a competent attorney. By the B round, you need a startup rockstar lawyer. There will be a bunch of side voting agreements and other complications.
@@FeeltheBoot great! I appreciate it
more content like this please!
Happy to oblige! Are there any specific topics you would like to see me cover?
Suburb content!
Thanks!!!