My VC learning from today - Drag-Along Rights:
When the majority of investors sell and everyone else gets emotionally kidnapped.
‘We’re all in this together,’ but make it legally binding ✨
My VC learning from today - Liquidation Preference:
The rule that decides who gets paid first when the startup Titanic sinks.
Spoiler: founders are the band playing till the end 🎻
My VC learning from today - Convertible Notes:
A short-term loan pretending it’s ‘not that deep.’
Basically a loan that hits you back later saying, ‘btw, I own part of your company now.’ 💅
My VC learning from today:
SAFEs are like the situationship phase of investing - no labels, just future trauma and equity
Thanks for coming to my Ted Talk
a16z just led a $12.9M round for ZAR: a fintech bringing stablecoins to Pakistan's 100M unbanked adults through corner stores and kiosks. This is how companies conquer entire verticals in countries where inequality reigns. (thread)
Who is BVNK, and why are Coinbase and Mastercard competing to buy this B2B stablecoin infrastructure startup for over $2.5 billion?
Damn, things are moving fast.