VC Minute Weekly Recap: Peter Walker
Peter "Chart-A-Day" Walker shares insights, opinions and optimism. Memorial episode for Jessie Dixon.
Peter Walker was our guest this past week. He is the Head of Insights at Carta. In his role, he provides a tremendous amount of data-backed insights for the startup community.
My top three takeaways from Peter:
Data show the time between fundraises is growing—make your cash last.
90-Day Exercise Window on options doesn’t have to be 90 days; it’s just an arbitrary number that became the industry standard.
Despite numbers trending in bad directions for founders (valuations down, down rounds up, VC & angel investments down, deal structure on the rise) there’s reason to believe things have leveled out.
What do you think? Reasons for optimism? What about Exercise Windows, what did you offer your employees?
Episode Summaries
Time Between Fundraises Is Growing
Founders, whatever you think it's going to take you to raise this funding, it's probably going to take longer. So, begin those conversations earlier than you think you need to.
Valuations Are Down; Down Rounds Are Up
As fundraising constricts, investor-friendly terms come out. Understand the effect these terms have on you and your company, as well as the effects of stacking SAFEs.
Founders Beware Of Deal Structure And Stacking SAFEs
As fundraising constricts, investor-friendly terms come out. Understand the effect these terms have on you and your company, as well as the effects of stacking SAFEs.
Take Care Of Your Team With Option Pools And Increasing Exercise Windows
listen to Peter's message about option exercise window. Personally, I agree with him that exercise windows should be longer for employees. The 90-day industry standard is just an arbitrary number.
There’s Never Been A Better Time To Start A Company
While funding is down, it's down less at Seed. Angel investing is down, but it's likely leveled out and will hold steady. There is still a plethora of capital available, and there are incredible tools to start businesses using low/no-code. There's never been a better time to start a company.
In Memory of Jessie Dixon
On Tuesday, September 12th our friend and operating partner at SpringTime, Jessie Dixon, passed away after a battle with cancer. We recorded a special episode, recounting the wonderful advice, leadership and friendship she gave to the startup community.
I like this memory from Matthew Erley the best:
Did you know Jessie? What memories can you share with the community?