07/11/2009
Listening to a short story being read on NPR. So enjoyable …
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“ John S. Reed, who helped engineer the merger that created Citigroup Inc., apologized for his role in building a company that has taken $45 billion in direct U.S. aid and said banks that big should be divided into separate parts. „
Reed Says ‘I’m Sorry’ for Role in Creating Citigroup - Bloomberg.com (via tedr)
You heard the man, get going team Obama. We want it.
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http://twitpic.com/oo4i3 - The rise of geek culture …
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I’m with a lot of Cal fans on BART. I want to go, wah!
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“ mdorov makes a really good point. What Fred didn’t make explicit is that the choice isn’t whether to have an option pool, but whether it comes out of the pre-money or the post-money valuation. If it comes out of pre-money, it’s funded entirely by the entrepreneurs and any preceding investors. If it comes out of the post-money, it’s funded by the VC as well. mdorov is right to note that as these options are to be granted to employees hired after the financing, and will produce future value, it would make sense for them to come post-money. But that’s precisely why both Fred and Mark Pincus agree that “it’s a question of valuation.” If options come out of post-money, it’s a discussion between management and investor about how much of their mutual equity they want to give up to future employees. If it comes out of the pre-money, it is a question of valuation. „
Comments by radar.oreilly.com — BackType
Quote posted at 10:35
06/11/2009
“ Who’s to blame? The buck stops with the president. But did his economic advisers make it clear to him that the proposed stimulus was way short of what the math suggested we needed, even given what was known in January? Or was Mr. Obama really led to believe that his stimulus proposal was as bold as he claimed it was? I don’t know. But I’ve got a sick feeling about the whole situation. „
Obama’s trap - Paul Krugman Blog - NYTimes.com
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Link posted at 19:19
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“ When we showed up, CMGI owned half the company and David owned less than 35%. The rest was in the hand of friends and family and options. David felt that he had made a bad deal with CMGI and wanted to fix that in the next round. „
Geocities
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“ Because successful startups are built by teams of owners, not by one individual. No matter how important a single founder is, without a motivated team around them, it’s going to be hard to build anything of a scale that matters to a VC. The best way to have a motivated team with an ownership mentality is to have them actually be owners. A founder who has all of the equity in their business AND also won’t allocate equity for other hires shows that they don’t understand the importance of teams in building great companies. My two cents. „
Valuation and Option Pool
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“ That’s a good question James. You would hope that Series A investors who insisted that the option pool be carved out before they came in would agree to a similar thing when the Series B investors arrived. It’s complicated by things like follow on rights, but the principal of symmetry is a good (and revealing?) one. What’s good for the goose should be good for the gander, no? „
Valuation and Option Pool
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just loved Arnaud Rebotini - The Swamp Waltz (Low Mode remix) http://awe.sm/7MF5 on @hypem
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just loved Xaphoon Jones - Testify (Radiohead Vs Kanye West ft. Lupe Fiasco) http://awe.sm/7MR5 on @hypem
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Expression Palette on Vimeo (via Vimeo)
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“ What stage is your business at? Early stage you should not generally need to be bringing in senior management but they are the ones for who the option pool is primarily aimed, so it could be argued that the option pool is not required until you intend to scale the business. Especially if non executive staff understand that options are unlikely to make them rich (and may not even cover their reduction in salary if and when you exit). „
Valuation and Option Pool
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brooksjordan
Hi, I'm Brooks Jordan, and I assemble bits and pieces from here and there on Tumblr to understand what's going on in digital marketing and advertising. (And there's a lot going on.)
