The case against personal founder guaranteeshttps://medium.com/point-nine-news/the-case-against-personal-founder-guarantees-b8f1a514c369 …
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Indeed. A large chunk of the VC practice around here is inherited from PE. I confess I've done it, years ago. Took me a while to realize, just as the article states, that it brings next to nothing for a huge cost to the founders. The exact opposite of a good deal.
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Good heavens. If they have to copy someone, why don't they copy US VC firms instead of European PE firms?
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Not in the startup world, no; it's more of a SMB thing. However many people in Europe, incl. VCs, prefer that founders stay poor forever. We at
@_TheFamily are working on changing that. Cc@daedalium.Thanks. Twitter will use this to make your timeline better. UndoUndo
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In my opinion this is not that common, at least not in Sweden
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That’s one reason why Sweden saw Klarna, Spotify, Mojang.
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Yessir! And have we mentioned our entrepreneur friendly 75% income tax rate such as e.g. in France. And 55%-60 % in many other major economies? Good times!
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I have heard of this. If I was presented with this I would counter with “the IP stays under founders private ownership to cover the risk”.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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I've only seen it with banks
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Personal guarantees are insane. One serious reason that
@Tracy_Young and I decided to found@PlanGrid instead of a construction company is that in construction, surety companies make you sign personal guarantees to get bonded.Thanks. Twitter will use this to make your timeline better. UndoUndo
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