Comments on: Reactions to Venture Hacks http://venturehacks.com/articles/reactions Good advice for startups. Tue, 16 Mar 2010 22:24:05 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Nivi http://venturehacks.com/articles/reactions/comment-page-1#comment-53 Nivi Sat, 07 Apr 2007 16:10:46 +0000 http://venturehacks.com/articles/reactions#comment-53 Funny story Joe. The simple hack on those fees is to cap them. Otherwise you are paying the other side to negotiate against you. The other side's lawyers will continue arguing until they hit the fee limit. Funny story Joe. The simple hack on those fees is to cap them. Otherwise you are paying the other side to negotiate against you. The other side’s lawyers will continue arguing until they hit the fee limit.

]]> By: joe greenstein http://venturehacks.com/articles/reactions/comment-page-1#comment-52 joe greenstein Sat, 07 Apr 2007 06:25:12 +0000 http://venturehacks.com/articles/reactions#comment-52 hi nivi - my uncle pointed me to this site - apparently he knows your dad? This is good stuff. Much needed. I just want to throw in that my personal pet peeve with regard to the "standard" term sheet is the bit about the company paying the VC legal costs. C'mon - you have $500M and I am raising 1.5M and you want me to take the first $25k to pay your legal expenses for doing the deal? That's like your dad giving you your allowance and then asking you to by him a hot dog. When we were raising money for flixster i thought that must be a trick - like if i agreed to that term they would pull the term sheet at the last second and say i failed the secret fiscal responsibility test... (Disclosure: I did in the end actually agree to that - but only because those guys at lightspeed are just so darn handsome.) keep up the good work! Best, j hi nivi –

my uncle pointed me to this site – apparently he knows your dad?

This is good stuff. Much needed.

I just want to throw in that my personal pet peeve with regard to the “standard” term sheet is the bit about the company paying the VC legal costs. C’mon – you have $500M and I am raising 1.5M and you want me to take the first $25k to pay your legal expenses for doing the deal? That’s like your dad giving you your allowance and then asking you to by him a hot dog.

When we were raising money for flixster i thought that must be a trick – like if i agreed to that term they would pull the term sheet at the last second and say i failed the secret fiscal responsibility test…

(Disclosure: I did in the end actually agree to that – but only because those guys at lightspeed are just so darn handsome.)

keep up the good work!

Best,
j

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