The real magic lies in completing the loop rapidly multiple times over with those initial high value users
One of the most overlooked yet critical elements of a startup’s success is its shareholder capitalization table (cap table). Founders often rightly focus on product development, fundraising, and customer acquisition - but fail to recognize that a poorly structured cap table can limit future growth, deter investors, and even threaten long-term control of the business. Getting your cap table right from the start is not just a legal task — it’s a strategic imperative.
You’ve got an idea that you think will go big with you at the helm. You battle it out for months -- building, testing, learning. Then you’re ready to pitch to some investors and the feedback is … overwhelmingly negative. You’re just a single person with an early-stage idea. Come back to me when you hit X -- they say.
“Entrepreneurship is about experimentation: the probabilities of success are low, extremely skewed, and unknowable until an investment is made.”
The real magic lies in completing the loop rapidly multiple times over with those initial high value users
One of the most overlooked yet critical elements of a startup’s success is its shareholder capitalization table (cap table). Founders often rightly focus on product development, fundraising, and customer acquisition - but fail to recognize that a poorly structured cap table can limit future growth, deter investors, and even threaten long-term control of the business. Getting your cap table right from the start is not just a legal task — it’s a strategic imperative.
You’ve got an idea that you think will go big with you at the helm. You battle it out for months -- building, testing, learning. Then you’re ready to pitch to some investors and the feedback is … overwhelmingly negative. You’re just a single person with an early-stage idea. Come back to me when you hit X -- they say.
“Entrepreneurship is about experimentation: the probabilities of success are low, extremely skewed, and unknowable until an investment is made.”
