TheFunded was mentioned in BusinessWeek by one of my favorite venture journalists, Spencer Ante. Ted Cory mentioned TheFunded Connect in a post about lessons learned with his start-up. There are some great lessons in this post, including:
1. Use cliffs for founders
2. Use technology that has low maintenance cost
3. Use technology that you can easily hire replacements
4. If due dates are missed, find out why. If there’s not a good reason, get someone else.
TheFunded had an amazing party at the Tesla Showroom, which was blogged about here. I expect more photos to appear on the internet over the next few days, and there were quite a few Twitter posts.
Um, I know this is a total idiot question.
What’s a “Cliff for founders”
I’m assuming that has to do with stock vesting? Or is it a decision to meet a landmark by a certain date or walk away?
Sorry, it’s a new term for me. Fill me in, holmes.
TheFunded Tesla event totally ROCKED! Thanks Adeo and Cindy for putting it together. I was lucky enough to get a test drive, which was out of this world. Not sure if I will be able to appreciate other cars after that…
I’ve posted some pictures from the event here: http://www.facebook.com/album.php?aid=2078034&l=e348c&id=2900395
And, regarding founder cliff, cliff vesting is when a founder’s shares will only start to vest after a more substantial period of time (ie. standard vesting terms provide that 25% of founders equity will “cliff†vest after one year with the remaining 75% vesting quarterly or monthly over a three or four year period). Hope that helps!