Yikes founders are massively diluted by Series A. Crazy part is Series A/B investors are essentially looking at companies that would be nearly IPO ready in 2000s.https://twitter.com/jmj/status/1180525455973076992 …
Friends and family share:
1. FF: 12.5% of 8MM, 1MM
2. Pre-seed: 10.4% of 12MM, 1.25MM
3. Seed: 8.1% of 18MM, 1.46MM
4. Series A: 6% of 40MM, 2.4MM
No liquidity on these paper profits and we're probably under-compensated for the risk they took, but could be worse.
@jmj