The Option Pool Shuffle Explained
Two term sheets can show the same pre-money valuation and still leave you with very different ownership. Often the difference is the option pool shuffle: a …
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Explainer
SAFE Conversion Math Explained With Examples
A SAFE feels simple when you sign it: money in today, shares later. The "later" part is where founders get surprised. When your priced round arrives, every SAFE …
Tax Residency Basics for Remote Founders
Running a company from a laptop means you can work from almost anywhere. Tax authorities, however, still care very much about where you are. If you are a …
Rolling Funds and Micro VCs Explained
Not every startup investor is a big firm in a glass tower. A growing share of early checks come from small funds run by one or two partners, and from rolling …
Founder Vesting Resets in Funding Rounds Explained
You have spent years building your company, and your shares may already be fully vested. Then a new investor asks you to put some of them back on a vesting …
Inventory Shrinkage Explained
Your system says you have 40 scarves on the shelf. You count 34. Those six missing scarves are inventory shrinkage, and they come straight out of your profit. …
Venture Debt Covenants Explained
Venture debt can stretch your runway without the dilution of a full equity round, but the loan agreement comes with rules you have to live by every month. Those …