TWiST legal-basics episode on board seats: why you effectively can't fire a VC from your board, and the cautionary situations that produces.
Covers the least reversible decision in a financing, usually discovered too late.
This video was created by This Week in Startups and features Wilson Sonsini attorney. We summarize and link with attribution; all rights belong to the creator.
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9 min
Dalton Caldwell and Michael Seibel break down rookie mistakes founders make around investor terms and incentives: what investors actually optimize for, misaligned terms to watch, and how naive founders get squeezed.
22 min
Wilson Sonsini partner Becki DeGraw walks TWiST through negotiating a term sheet: which terms actually matter, market norms, and where founders should spend negotiating capital.
26 min
YC partners share real investor horror stories from their founder days and from companies they've advised: exploding term sheets, tranched deals gone wrong, investors behaving badly after wiring, and how founders should protect themselves.