Founder’s Pocket Guide Quotes

“The common practice is for the option pool to be established on the pre-money valuation, and therefore the founders and any other existing shareholders are hit with the dilution effect of the option pool, but this can certainly be negotiated.”
― Stephen R. Poland, Founder’s Pocket Guide: Term Sheets and Preferred Shares

“A term sheet is not a contract or a promise to invest, but rather an agreement in principle that outlines the terms of the investment deal. Just because you have a signed term sheet does not mean the investment deal is completed.”
― Stephen R. Poland, Founder’s Pocket Guide: Term Sheets and Preferred Shares