- The Data Minute podcast: Have we reached a tipping point with SAFEs?
- Where to watch, share, and subscribe to The Data Minute
- Previous episodes
- Your check size dictates fund strategy (Charles Hudson, Precursor Ventures): August 19
- What should founders pay themselves? (Waseem Daher, Pilot): August 5
- The investor view on startup funding (Kate Shillo Beardsley, Hannah Grey Ventures): July 22
- Pre-seed edition: July 8
- All startup problems are people problems (Darcy Casarella, NEA): June 24
- For biotech companies, fundraising is a different kind of beast (Darren Cooke, Berkeley Life Sciences Entrepreneurship Center): June 10
- Raise amount vs. valuation cap: What the data tells us (Mendel Chuang, Acquired Wisdom Fund): May 27
- The state of startup compensation today: May 13
- What did the pandemic due to healthtech investing (Marissa Bertorelli, Polaris Partners): April 29
- How many checks should founders expect in their pre-seed round? (Dave Anderson, Beat Ventures): April 15
In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) is joined by David Willbrand (Chief Legal Officer, Pacaso) for a wide-ranging conversation on fundraising with SAFEs, liquidation preferences, and the relationship between founders and lawyers. What started as a discussion on the technical aspects of raising a SAFE, late-stage liquidation outcomes, and other fundraising topics turned into an examination of the founder/lawyer relationship with one of the world’s top experts on the subject. It’s a unique look at a partnership that you don’t want to miss.
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Chapters:00:16 Intro02:01 Are SAFEs properly understood?07:41 What should founders know before a priced round?13:30 Valuation caps and discounts20:30 How much should liquidation preferences matter?32:02 Exploring the value of counsel to founders41:41 The shifting perception on founder secondaries 47:09 Outro
