Chris Johnson's Reviews > Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist

Venture Deals by Brad Feld
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Oct 21, 11

Read in October, 2011

This had really, really good information on deal structure, how VC firms work and how Silicon Valley thinks.

The utility would be 5 stars. The other thing I loved was its relative brevity. It had 170 or so pages, probably 70k words, and the restraint that they showed was a feature. I hope that the Kindle brings more brevity to the business bookshelf because most of the business books I read are too long by half. (Michael Lewis, I'm talking to YOU.)

It helps us to understand the startups we're working on and the culture that they live in.

A few criticisms:

-first, employee compensation needed to get more time and attention. Also burn rate, and the time between Angel and A-round funding.

-second, founder comp is a key issues. Not enough attention was paid to that. Founers that need meal money are in a bad spot initially.

-Third, credit risk: what happens if a company fails to build? Are the founders liable? etc.

It's nice that so much time and thought was spent thinking about the reputations of the founders, firm partners and everything else. It appears that the authors are concerned with "paying it forward."
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