by Aaron Holiday

Recently, there has been a pattern of founders raising multiple note rounds before Series A that result in upside down cap tables. An upside down cap table occurs when investors (in aggregate) own more of a startup than the management team and its employees.

Example Upside-Down Cap Table:

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After speaking with founders, we heard several stories that explain why this is happening; however, there was one recurring reason: many founders are not fully aware of the impact of raising multiple notes ahead of a Series A, and they unknowingly dilute themselves much more than they desire. …

by: Nnamdi Okike

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2019 appeared to be a banner year for the technology markets. The year ushered in a boom in public market liquidity, with unicorns such as Uber, Lyft, and Pinterest going public before the end of Q2. …

By Alessio Fanelli

The advent of machine learning has been one of the major catalysts for innovation in this decade, powering products like Alexa and Netflix’s recommendation system. …

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