Summary: Angels make more introductions than VCs because angels need co-investors. You can’t clear the market in series–you can only clear it in parallel. Tranches are dumb–they have zero upside and catastrophic downside. Two investors aren’t always better than one. Finally, a ‘very special’ message to graduating Y Combinator founders: don’t do deals on D-Day [...]
Entries Tagged as 'Auctions'
Thoughts on Adam Smith’s Letter to Graduating Y Combinator Companies
August 8th, 2007 · 2 Comments
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