Archives / April, 2007

Concluding Thoughts about Good Board Packages

Chris concludes our series on board packages.  Chris, take it away… Now that I’ve given you an outline to what I think makes a good board package, I’m going to exercise my VC prerogative 🙂 and immediately caveat that advice. In my mind, the trick to effective board packages is less about the outline of the…

Common Stock Carveouts In Acquisitions

If you read our term sheet series, you know that we spent a fair amount of time discussing liquidation preferrences.  Jesse Fried and Brian Broughman, a professor and graduate student at Berkeley, respectively, recently published a paper about the emergence of common stock carveouts and some of the reasons why they belive venture capitals are…

Board Package Series – Overview and CEO Critical Thoughts

We continue our board package series with perhaps the most important section of any meeting and package: the CEO executive summary.  Again, Chris takes us through his thoughts. In my humble opinion, this section of a board package is really where the rubber meets the road. Think of this section as part state of the…

Final Regulations Under Section 409A Released

As you may recall, Brad and I have been blogging about 409A since the initial proposed regulations were released. You can find our series here. The final regulations were released.  The work of artistry is 397 pages.  Since most of you will not find the need to read all 397 pages, you might be asking…

Board Package Series – Business Reporting

In our continuing series of creating effective board packages, we now turn to business reporting.  Chris, you have the floor… This is the stuff that most CEOs think of when they think of board reporting packages—financials, departmental overviews, etc. And this stuff is indeed a core component of any good board package, because the more…

Fred Wilson on Reserves

Today’s “Great VC Post” comes from Fred Wilson and is on the concept of how a VC thinks about “reserves.”  Fred is very specific in the post about how his firm (Union Square Ventures) thinks about reserves.

Board Package Series – Board Administrative Issues

In our next posting in the Board Package Series, Chris tackles what he deems (and I agree) as the least interesting board material that finds its way into the package:  Board Administrative Issues. There’s no getting around it—there’s always going to be administrivia that a board of directors has to deal with, so your goal…

Is Quality of The Team The Most Important Thing?

Question: When you evaluate startups to invest in what are the key qualities and what emphasis do you place on it? Is management as high as 50% or more? Every young venture capitalist learns several cliches about how important either (a) the team is or (b) the idea is.  Unfortunately for the young venture capitalist,…