In case you missed it, here is the hilarious video about Bill Gates’ last day at Microsoft that was shown at his final keynote address at the Computer Consumer Electronics Show (CES) in Las Vegas yesterday. I think it’s so great to see his fun side! As an entrepreneur, I am in awe at what he has accomplished in his lifetime and even did a post about a prior appearance of his with Steve Jobs a while back.
The video stars Brian Williams, Steve Ballmer, Matthew McConaughey, Robbie Bach, Jay-Z, Bono, Steven Spielberg, George Clooney, Jon Stewart, Kevin Turner, Hillary Clinton, Barack Obama, Al Gore, and others. Thanks to Long Zheng for posting his own video and helping me find a link. Here’s the link to the YouTube video that will hopefully show properly below (its been off & on again).
First off, if you haven’t heard Al Gore is now a partner at Silicon Valley venture firm, Kleiner, Perkins. Kleiner is the most prestigious venture firm in Silicon Valley. He joined to help guide their investments in companies that are combating global warming. I have to really hand it to Al Gore for totally reinventing himself from VP of the United States to candidate for President of the US to champion for the planet! His parents must be mighty proud!
It might not be worth negotiating the finer points of the deal at the term sheet stage.
Step 2: Identify the right angel
Due diligence is an “interesting” process.
Step 3: Your company’s fundamentals.
The paperwork is extremely detailed and extensive.
Step 4: Valuation.
Most of the deal focuses on negative details.
Step 5: Structuring the deal.
You pay all the legal bills.
Step 6: Negotiation. (Psst!: You don’t need to do it!)
Don’t just focus on how much you’re raising and what chunk of the company you’re giving up.
Step 7. Leveraging the relationship.
Ben and Carleen make great points and from my experience back in the late 90’s I agree with all of them. I’d like to add, ‘trust your gut!’ Your gut feelings are based on years of experience that you may not be able to articulate quickly in words but you know…you know you do.
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