3 ms·

Does it really matter what it's called if everyone knows what it means? And what BoD expenses are you talking about?

• graycat 10y ago
  A BoD usually means a Delaware C corporation, and that usually has some lawyer expenses. May have some founder employee agreements for some more lawyer expenses. And there may be insurance for the board members, e.g., as at https://en.wikipedia.org/wiki/Directors_and_officers_liability_insurance https://en.wikipedia.org/wiki/Directors_and_officers_liabili... But really what I meant was that, when there is a BoD meeting, say, monthly or quarterly, the members need funds for travel, food, and lodging, and usually the company pays for those. Just one BoD member flying first class and staying at a high end hotel once a month could eat into a $20,000 seed round in a hurry. Or, one or a few co-founders, living cheaply, on their own savings, each with a $1000 computer, typing in software can be cheap and where a seed round of $20,000 to $40,000 can do well for Internet fees, publicity, maybe cloud fees. That's what I had in mind.
  • icedchai 10y ago
    For amounts that low, you're having meetings online, period. Nobody is flying out to check on their 20k seed investment. It's not even worth their time.
    • graycat 10y ago
      Moreover, they are not going to invest in a $20,000 seed round. They will say that it won't "move the needle". Well, for their 2 and 20, they are correct. For exit value, they can be wildly wrong.