Jay Parkhill
33p38 comments posted · 0 followers · following 0
13 years ago @ PeteSearch - My 2010 in numbers · 1 reply · +1 points
You are way ahead of me on blog posts though. I think I managed about 4 before I ran out of gas on blogging.
13 years ago @ Internet Cases - Customer violated soft... · 0 replies · +2 points
13 years ago @ Mendelson's Musings - The Convertible Debt D... · 0 replies · +1 points
Something that HAS come up a bunch is the situation where the company is unable to raise the subsequent round that would trigger conversion. The Notes come due and the investors technically own the entire business but if they were to make a claim on it the founders would probably leave. There follows a long awkward period where no one knows what to do. Companies with good management and supportive investors manage to renegotiate some kind of conversion but it is challenging because everyone ends up negotiating the same valuation issue they wanted to avoid earlier but with more at stake for both sides.
13 years ago @ VC Adventure - Has convertible debt w... · 1 reply · +2 points
A company that raises a Note round, then a Series A according to the "plan" probably would save money, but in my experience most end up extending Note terms, taking a second round of Note investment, converting at less than the Series A target, etc.
With numerous exceptions, I generally advise clients that for ~$250k or less, Notes will use less of the proceeds on legal fees and make for a cleaner cap table. Above that they should just bite the bullet and do equity.
13 years ago @ Strava Cycling Blog - Strava at the Universi... · 0 replies · +1 points
13 years ago @ PeteSearch - How to suck at raising... · 1 reply · +1 points
13 years ago @ Mendelson's Musings - Spindle Law – Cr... · 0 replies · +1 points
14 years ago @ Mendelson's Musings - Watch Out Boston, a Ri... · 1 reply · +1 points
OTOH, at least the presenter gets some work product out of the deal so this is arguably still a step up from paying the event sponsor directly. Complicated value chain though.
14 years ago @ Mendelson's Musings - Why Do I Need Facebook... · 1 reply · +1 points
Unlike @emily I have 3 groups of friends: Twitterers (the plugged-in crowd), FBers (people trying to understand this online/social stuff), and law partners (who fortunately will never see this comment). I email memos to them.
14 years ago @ Highway 12 Ventures - The Open Angel Forum &... · 1 reply · +1 points
I have one quibble with OAF's model, which is that the service providers who can afford the $1500 fee need to make that up through time billed to clients. I.e. the companies still pay the presenter fee- they just pay it over a longer period to their lawyers and accountants. No free lunch indeed.
And lest I come off as purely altruistic- I am an attorney who has worked with startup companies for my whole career. I keep expenses low so that I can keep my rates low, and consequently get priced out of events like the Open Angel Forum. That works for me.
I hope the OAF is a smashing success and spawns loads of great companies. You won’t find me there, though. I will be down the street meeting entrepreneurs over coffee.