equity

24 statements across 21 episodes · 6 bullish · 10 bearish · 22 people on the record · first statement Mar 9, 2015 by Stefan Glaenzer · across every show →

Everything said about equity, oldest first

Mar 9, 2015
Disclosure
Passion Capital targets 15% to 25% equity in seed rounds
“Generally speaking, we look for equity somewhere between 15 and 25%.”
Stefan Glaenzer Mar 9, 2015 ▶ 5:59 20 VC 018: Seed Stage Investing with Stefan Glaenzer of Passion Capital
May 28, 2015
Insight
Taylor: Recruiting domain experts who take pay cuts de-risks startups
“Was the finder able to pull in some high profile domain experts? So again, I started up a medical startup. Was I able to bring in somebody that is insanely smart in that field and get them to take a pay cut for equity? All of those things are sort of signs tha…”
Scott Taylor May 28, 2015 ▶ 7:55 20 VC 040: The Required Qualities To Be A Great Founder, with Scott Taylor, CEO @ miDrive
Sep 25, 2015 positive
Insight
Startup equity splits should be forward-looking, not backward-looking
“One of the important things to remember about equity is that it should be forward-looking, not backward-looking. So just because you started the company two months earlier or six months earlier or that it was your idea in five, 10 years' time will mean very li…”
Alice Bentinck Sep 25, 2015 ▶ 10:13 FF 014: Making Great Founders, Idea Creation and The First 100 Days Of A Startup with Alice Bentinck, Co-Founder @ Entrepreneur First
Sep 25, 2015 neutral
Disclosure
Almost all Entrepreneur First co-founder equity splits are 50/50
“So pretty much all of ours are fifty-fifty.”
Alice Bentinck Sep 25, 2015 ▶ 10:11 FF 014: Making Great Founders, Idea Creation and The First 100 Days Of A Startup with Alice Bentinck, Co-Founder @ Entrepreneur First
Apr 12, 2019
Insight
Ward: Equity grows exponentially while payroll accumulates linearly, causing wealth inequality
“Payroll is a debt product. With bi-monthly coupons, equity is a capital product, and in any economy, whether it's GDP for the nation or the Silicon Valley economy, any economy that's growing, by definition, equity accumulates exponentially, but debt accumulate…”
Henry Ward Apr 12, 2019 ▶ 31:25 20VC: Carta Founder Henry Ward on Why The Best Companies Are Not Product Led But Distribution Led, 3 Requirements Needed For A New Market/Investment To Be Exciting and Why Small Markets Are So Attractive
May 11, 2021
Insight
Ryan Smith: Giving away equity is irreversible, whereas hiring is reversible
“So if you're giving out equity of your company, it's a one way door. You can't get it back. You know, oftentimes if you're hiring someone, it can be a two way door. If it doesn't work out, you part ways.”
Ryan Smith May 11, 2021 ▶ 16:14 20VC: Qualtrics Founder, Ryan Smith on The 2 Hour Decision Whether To Sell Qualtrics for $8Bn in Cash, Why Tying Your Identity To Your Company Will Never Make You Happy and His Relationship To Risk, Wealth and Responsibility as a Result
Apr 11, 2022 neutral
Insight
Avichal Garg: Token value creation often requires writing off founding equity
“We see cases where actually, yes, today there's a company, but the real value clearly will be in the token. And actually you want the company to dissolve and not exist. So effectively you're going to invest in some equity over time. You'll get some tokens, whi…”
Avichal Garg Apr 11, 2022 ▶ 29:17 20VC: Why Crypto is Software Eating Money, Why Crypto Firms Will Outcompete Traditional Venture Firms, How To Price Tokens and When To Have Them, DAOs: How Are They Structured and What Makes One Successful with Avichal Garg, Co-Founder @ Electric Capital
Jul 22, 2022 negative
Insight
Samani: Value accrual to both tokens and equity creates conflicting incentives
“In almost all cases, there should not be value accrual to tokens and equity. There are a couple of exceptions to that. But as a general rule, that is true. For teams that try and pitch you value accrual to both, it is almost certain that those two things are i…”
Kyle Samani Jul 22, 2022 ▶ 7:33 Kyle Samani: Why Bitcoin is Not a Hedge Against Inflation | 20VC #909 · 20VC with Harry Stebbings
Jul 22, 2022 bearish
Disclosure
Samani: In crypto venture deals, equity will be worth nothing
“Mechanically speaking, with a lot of the private round market deals that get done these days they're legally structured as SAFs, excuse me, as SAFs with token warrants or equity rounds with token warrants, but the primary asset that we believe will have value …”
Kyle Samani Jul 22, 2022 ▶ 8:41 Kyle Samani: Why Bitcoin is Not a Hedge Against Inflation | 20VC #909 · 20VC with Harry Stebbings
Dec 15, 2022 bullish
Opinion
Figma Equity Is Virtually Guaranteed Value Compared to Unknown Startups
“200,000 dollars of equity at Figma is going to be very different than 200,000 dollars at Maybe a small company that doesn't have a good chance of success. And is probably either going to get acquired for a nominal amount or just fizzle out because you know wha…”
Maggie Hott Dec 15, 2022 ▶ 1:01:31 Maggie Hott: 3 Questions You Must Ask When Interviewing Sales Reps | 20VC #960 · 20VC with Harry Stebbings
Jan 18, 2023 positive
Insight
Small equity stakes motivate growth advisors more than large cash retainers
“Even a small percentage of equity will be actually more powerful than sometimes a large amount of cash in, in some cases, right? For selected companies.”
Hila Qu Jan 18, 2023 ▶ 30:04 Hila Qu: The Ultimate Guide to Product Growth at Your Startup | 20VC #967 · 20VC with Harry Stebbings
Apr 5, 2023
Assertion Not checkable as stated
Salguero: Almost no job candidates read or negotiate their equity packages
“Nobody, nobody understands their equity and negotiates for it. Like in, in my career, I've had so few people actually read the document. I, I've probably had like a dozen questions and usually it's on page two of a 75 page document, right? So like nobody reads…”
Mike Salguero Apr 5, 2023 ▶ 6:29 Mike Salguero: How I Grew ButcherBox to $600M/year in Revenue; Tips for Influencer Marketing | E998 · 20VC with Harry Stebbings
Apr 19, 2023 negative
Opinion
Founders rely too heavily on cash over equity for early sales hires
“When it comes, especially to early sales hires, there's not enough emphasis placed on, on equity in sales. They give out equity for other roles. And I think equity is, is often something that founders don't really think of when it comes to salespeople. They re…”
Mark Goldberger Apr 19, 2023 ▶ 39:00 Mark Goldberger: The Ultimate Guide to Enterprise Sales | E1003 · 20VC with Harry Stebbings
Jun 5, 2023 positive
Insight
TJ Parker: Equity compensation is a startup founder's biggest cultural lever
“Incentivizing your team as much as possible on equity ends up being, like, the biggest lever you have from a cultural standpoint.”
TJ Parker Jun 5, 2023 ▶ 38:45 TJ Parker: Building PillPack, The First E-Commerce Pharmacy, to Amazon's $1B Acquisition | E1022 · 20VC with Harry Stebbings
Nov 27, 2023 negative
Insight
Shebat: Candidates prioritizing cash over equity present a yellow flag
“People that are way too focused on cash. Versus the equity. I do think that's more of a yellow flag.”
Mike Shebat Nov 27, 2023 ▶ 25:51 Keith Rabois & Mike Shebat: Creating an Olympian Mindset to Work Ethic| E1087 · 20VC with Harry Stebbings
Dec 11, 2023 negative
Opinion
Corcos: Equal Equity Splits Are Not Required for Co-Founders
“As a rule, I would say, no, it's not required. I think it depends a lot on subject matter expertise. It depends a lot on also how you view the definition of what a co-founder is.”
Sam Corcos Dec 11, 2023 ▶ 1:10:56 Sam Corcos: Why Founders Should Take as Many VC Meetings as Possible | E1093 · 20VC with Harry Stebbings
Feb 5, 2024 negative
Insight
Tisch: All VC firms offer the same commoditized product
“I think at the end of the day, for the most part, all VCs offer the same product. We are giving money and we are taking equity. What comes after that is obfuscated in a sales pitch.”
David Tisch Feb 5, 2024 ▶ 5:42 David Tisch & Terrence Rohan: Biggest Misconceptions & Hardest Truths About Seed Investing | E1112 · 20VC with Harry Stebbings
Feb 7, 2024 negative
Assertion Not checkable as stated
Allebest: Tax prep for tiny global equity stakes exceeds equity value
“The moment you are an equity owner, you have a K one in 37 states and 12 countries and the tax bill alone for managing the equity, tiny equity stake you have can be worth more than the equity itself.”
Erik Allebest Feb 7, 2024 ▶ 1:01:24 Erik Allebest: Scaling to $100M Revenue, 150M Members and 700 People, All with No Vc Funding | E1113 · 20VC with Harry Stebbings
Mar 12, 2025 negative
What-if
Östberg: Delivery Hero should have raised equity over debt at $35B valuation
“If we would have known that we would have cut costs A lot faster earlier. We would have probably taken down risk a little bit. We would have saved as much money as we can. We probably would have raised equity instead of debt during the time when we thought tha…”
Niklas Östberg Mar 12, 2025 ▶ 4:43 Niklas Östberg, Founder @ Delivery Hero: Competing with Uber and Doordash in a Capital Arms Race · 20VC with Harry Stebbings
May 9, 2025 negative
Opinion
Crespo: European Employees Understand Equity Less Well Than US Peers
“I think we could be more appreciative of equity. Employees, a lot of employees do not understand equity as well as US employees.”
Eleonore Crespo May 9, 2025 ▶ 27:16 20VC: Four Traits of the Most Successful Founders | How to Hunt and Close Talent Like a Pro and Where All Founders Go Wrong | Lessons Raising $397M From the Best Investors in the World with Eléonore Crespo @ Pigment
Jun 19, 2025
Disclosure
O'Driscoll: Personal portfolio allocation is 75% equities and almost zero bonds
“And I'm with Jason, I'm about 75% equity, mildly terrified, you know, almost nothing in bonds and then rest in short-term and weird stuff.”
Rory O'Driscoll Jun 19, 2025 ▶ 1:05:28 Chime IPO: Are IPOs Hotter Than Ever? · 20VC with Harry Stebbings
Jun 19, 2025 bullish
Disclosure
Lemkin: Personal financial position is 100% allocated to equities
“No, I'm back where I was in 2008, a hundred percent equity in my personal position, a hundred percent.”
Jason Lemkin Jun 19, 2025 ▶ 1:05:36 Chime IPO: Are IPOs Hotter Than Ever? · 20VC with Harry Stebbings
Jun 27, 2025 positive
Insight
Graves: Startup Equity Outweighs High OTE for Early Sales Hires
“If you're at a fast growing company that is doing really well, your equity is going to be way more meaningful than your OTE.”
Kim Graves Jun 27, 2025 ▶ 29:24 20Sales: How to Layer Enterprise Sales on PLG | How to Sell AI Tools To Enterprises That Are Scared | Should Reps Own Their Own Pipeline | Mistakes All Founders Make When Moving From Founder-Led to Rep-Led Sales with Kim Graves
Nov 21, 2025 negative
Opinion
Altman: Venture capital is a cutthroat market, not a collaborative environment
“I think that it is, people say it's this sort of chummy, like, collaborative thing where we're all kumbaya and having fun, and then, like, You know, you get to it, and someone just, like, elbows you out of the way. It's not. It's a competitive market. We're al…”
Max Altman Nov 21, 2025 ▶ 1:10:15 20VC: Max Altman on The New Seed War: Can Anyone Compete with Sequoia and a16z | Leaving $2BN on the Table with Reddit | Lessons from Backing Rippling at $25M Post | Why Climate Tech is a Mirage and Disaster
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