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I think it's more typical to issue, for example, 10M shares, take 3M for yourself, and leave the rest for employees/VCs/whatever (rather than issue new ones, in

• mattzito 13y ago
  Yeah, you're right, that's often the case, especially when you have cofounders and early employees that you don't want to dilute during the first funding round. However, I just wanted to keep the example simple, I thought it was easier to talk about creating shares than deal with the "who owns the unissued shares" notion. But yeah, that's a good clarification.