What interest rate moves actually change inside a startup
A change in the Federal Reserve's policy rate reaches a young company through five channels, and only one of them is the cost of a loan.
Valuation
What a startup is worth, how the number is set and what it means for founders.
How to buy an existing small business without buying its problems
Acquiring a running business can be faster than starting one. The diligence questions below separate a solid company from a seller's well-presented exit.
SAFE or convertible note: what you are actually agreeing to
Both instruments postpone the valuation argument, but they treat time, debt and dilution very differently. How each one works and the clauses to read twice.
What actually happens at your first priced round, step by step
From the term sheet to the wire, a priced round converts old instruments, resizes the option pool and rewrites your charter. Here is the sequence and the traps.
How a venture capital fund works, and why it changes who it backs
Fees, carry, fund life and the math of returning a fund explain most investor behavior that founders find puzzling. A plain guide to the machine behind the check.
How to price an accelerator offer before you give up equity
An accelerator deal is a financing with a valuation hidden inside it. How to calculate what you are really paying and the questions to ask before you sign.
The SaaS metrics investors check first, and how they spot inflated numbers
Recurring revenue, retention and payback periods drive how SaaS companies are valued. Here is how each is defined, where founders bend them and how diligence catches it.
What a 10-K tells an operator that a press release never will
Public companies' annual reports hold pricing, cost and risk detail your competitors and customers are legally required to disclose. Here is where to look.
Why interest rates quietly set the price of your startup
Central bank decisions reach private company valuations through discount rates, public comparables and fund flows. How the chain works, and what to watch.