Straight talk on early-stage investing, term sheets, co-founders, and the stuff they don't teach in accelerators.
The term "seed" has stretched so much that it barely means anything anymore. Here's how we actually define it — and why it matters for your fundraise timing.
Read More →We've seen hundreds of decks. These are the seven patterns that make us close the PDF before we finish the first five slides.
Read More →People keep predicting the Austin bubble bursts. They've been saying that for five years. Here's why the fundamentals remain strong.
Read More →Liquidation preferences, pro-rata rights, anti-dilution provisions. A plain-English explanation of the terms that actually matter at the seed stage.
Read More →Theme funds are fashionable. We've deliberately avoided becoming one. This piece explains the logic and what it means for companies pitching us.
Read More →Before you start sending decks, run through this. It's not a formula — it's a sanity check to make sure you're not wasting your own time.
Read More →From our side of the table, here's what we're paying attention to — and what you probably think we care about that we really don't.
Read More →Equity splits, decision-making authority, and what happens if someone leaves. These conversations are uncomfortable until you skip them and things go wrong.
Read More →The hype cycle peaked and retreated. Some investors stepped back. We didn't. Here's what we're still funding and why the fundamentals changed in our favor.
Read More →The mistakes founders make when building the initial team are different from every hiring mistake that comes after. This is the one no one warns you about.
Read More →Some founders built their early user base by sharing their journey openly. Others handed their roadmap to competitors. How do you tell which you're doing?
Read More →A direct answer to the question we get most often. No PR spin, just the actual criteria we apply when deciding whether to take a second meeting.
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