akharris

13 ms·

91.
by akharris 8y ago
I understand the skepticism, but I'd point out that, if I was trying to tilt the scenario in my favor, I'd have written about how founders should always take a preemptive deal quickly and secretly. That way, every time I made an o
92.
by akharris 8y ago
We’re using the same definition here. I’m referring to rapidly scaling, $1b+ companies that are fundamentally reshaping markets.
93.
by akharris 8y ago
I understand where you're coming from, but don't actually think this is true. Quite a few of our best companies had difficult times raising their As - they were often too early or too different or too little of a pattern match to
94.
A Guide to Preemptive Funding Offers(blog.ycombinator.com)
90 points by akharris 8y ago|12 comments
95.
by akharris 8y ago
Ranges we see: Option pools: 10-15% Vesting: If there are new rules here, they are around re- vesting and highly dependent on how long the company has been around. *Ratios: A bit harder to say, but the lead is usually taking a significant
96.
by akharris 8y ago
It doesn't matter where the company raising an A started, it is usually incorporated in Delaware. If the company incorporated elsewhere, it will almost always reincorporate in Delaware prior to raising an institutional round. This isn&
97.
by akharris 8y ago
A downloadable version of the doc is linked directly above the image. That does the job nicely, since it allows you to immediately edit.
98.
by akharris 8y ago
Those are diligence items that aren't typically defined in a term sheet. You'll deal with that directly with the investor, potentially as a condition to close as worked out in the full docs.
99.
by akharris 8y ago
Glad you agree. Looking forward to seeing some (more) term sheets from you!
100.
by akharris 8y ago
Our safe docs are pretty good for this: https://www.ycombinator.com/documents/#safe .
101.
by akharris 8y ago
Jason and I are happy to answer any questions people have about this document: why we included the terms we did, how to think about using, etc.
102.
A Standard and Clean Series A Term Sheet(blog.ycombinator.com)
623 points by akharris 8y ago|168 comments
103.
by akharris 8y ago
No, it's a program to help YC companies raise As from investors.
104.
by akharris 8y ago
I actually see this from a different angle. I think the bar is incredibly high, and that many investors fail to clear it. It is high because, when you see the best investors at work, it is blindingly obvious that they operate in a different
105.
by akharris 8y ago
Even with how well I understand the batch - having been part of one and having seen 5 years worth as a partner - I'm still amazed by how powerful the structure is. Part of what's cool is that the strengths of the batch have evolve
106.
by akharris 8y ago
It isn't even true there. This is one of the common misconceptions that show up in blogs. There's no such thing as a minimum metric for an A - SaaS or otherwise.
107.
by akharris 8y ago
Not quite sure what you're asking here. Could you clarify? Happy to try to answer based on our data. There was only 1 actual YCA batch last year. The other companies that participated in the program did so in more of an adhoc fashion -
108.
by akharris 8y ago
MRR is only one components of some raises. Some of the companies had millions of dollars a year in revenue, some had none. The relevant metrics change depending on the company, industry, time since launch, capital raised, geography, etc.
109.
by akharris 8y ago
The program is only open to YC companies.
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Things we've learned about Series As(blog.ycombinator.com)
159 points by akharris 8y ago|32 comments
111.
by akharris 8y ago
It is easy to criticize founders when they launch something new. Given enough time, you'll often look smart for doing so since nothing is perfect, and most startups don't end up the way founders hope at the beginning. I worked wit
112.
by akharris 8y ago
Leads will take as much of the round as they can. This is usually at least 51% but often much more.
113.
by akharris 8y ago
The goal here is to reach investors that can lead series As. Doing that requires a fair amount of capital given that: a) the average A last year was $8m and b) the lead is expected to write a check for the majority of the round. I think th
114.
by akharris 8y ago
Please don't be rude here. The author clearly knows how to use manual. An ND filter allows you to set a long shutter speed without letting as much light hit the sensor. This allows you to capture motion without overexposing your shot.
115.
by akharris 8y ago
This is a great idea. We've thought about this a fair amount but have not yet found the right solution to implement.
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by akharris 8y ago
Good edit. Hadn’t thought of that. Changed.
117.
by akharris 8y ago
Figuring out a clear story to tell is part of the challenge. We've noticed that founders who are better at doing this generally build better products and companies. So I'd look at this as a test: can you tell your story in a way t
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Toy Markets(blog.ycombinator.com)
103 points by akharris 8y ago|30 comments
119.
by akharris 8y ago
Much as I love NYC, we can't be everywhere at the same time. Also, we were in NYC a month or so ago for FFC and want to make sure we get to visit as many locations over time as we can.
120.
by akharris 8y ago
How did the two of you originally connect?

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