Discover and read the best of Twitter Threads about #DisruptSF

Most recents (5)

🔥 MYTH: Standard term sheets give founders the rights they need to lead their companies.

THREAD...

#DisruptSF #FounderFriendlyStandard
1/ To build for the long term, founders need to consider their company's management structure. It's easy to ignore when trying to develop a product, build a team, and raise money, but ignoring governance can come back to haunt you.
2/ It’s easy for founders to be seduced by unicorn dreams and focus on valuations, but it’s critical to stay conscious of shareholder voting rights and what the board of directors will look like and the control the board will have over the #startup.
Read 8 tweets
🔥 Some words of caution for founders thinking about using @YCombinator Safes

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#DisruptSF #FounderFriendlyStandard
@ycombinator 1/ If you want to run your company for a long time, you’ll need control. You’re unlikely to lose control if you can maintain ownership of 80 - 95% of your company. If you’re down to 40 - 55% of your company after your first round of financing, control can slip away fast.
@ycombinator 2/ Raising too much on a Safe, especially with a high discount or a low valuation cap, is a quick way to give away too much equity.
Read 11 tweets
🔥 MYTH: You need to angel investment or venture capital to start a real venture – or else it's just a "lifestyle" business.

THREAD...

#DisruptSF #FounderFriendlyStandard
1/ Venture capital in Silicon Valley dates back to 1957. The first VC investment was in Fairchild Semiconductor. Back then, starting a company required lots of capital. Now, not so much as @estraschnov points out.
@estraschnov @FlyingBenji @KateKendall @Boootstrapping @miwriting @abologlu @People_Of_Space @PulsoPymeMx @Luke_Waring @IndieHackers @Malcolm_Ocean 2/ When founders delay investment venture capital, they get more control of their companies. @founding
Read 29 tweets
In SF at the @TechCrunch #TCDisrupt hackathon with @josephofiowa this week.

I’ll be live tweeting what we build for the next ~48 hours. Smash that subscribe button and buckle in!
We settled in at table 51 in the hackathon area if you’re around and want to stop by!
We’re planning to build a computer vision powered Chess utility that uses your phone’s camera to understand the state of the board and add software features to real-world Chess!

First step: collecting training data for our machine learning model.
Read 38 tweets
1/ This weekend, I’ve been reaching out to startup influencers to coordinate a twitter campaign where we celebrate Indie Hackers, bootstrappers, customer-funding, and Zebras during the unicorn-obsessed #TCDisrupt #DisruptSF conference October 2 – 4, 2019.
2/ If you want to join us, we’re using the hashtag #DisruptVC. One of the influencers I approached asked why #FounderFriendlyStandard gives founders a 24:1 voting advantage. The reason is to keep founders in control of their companies. Here’s an excerpt from the email:
3/ #FounderFriendlyStandard is a checklist of issues for founders in every country in the world, not just Delaware C-Corporations. Section 2.2 says that founder stock vests over 4 years. In some legal jurisdictions, unvested stock cannot vote.
Read 11 tweets

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