pro-rata rights

“We don't do a lot of Parada for a bunch of reasons, including we don't think In most cases, in many cases, Parada's aligned to the founder, because the problem with Parada is you're always a net buyer of the founder's company, and they're always a net seller.”

“The other thing you're doing when you're exercising parada over and over again is Is your dollar averaging down your returns, or otherwise you could say your dollar averaging up your cost basis?”

“So I would say we insist on it to a point, and probably 80 or 90% of our deals at Perrada would be my guess, but we're also not rule-driven, inflexible bureaucrats, so if there's a reason why it doesn't make sense, you know, we'll work through it with people.”

“When I'm getting into those markets, I'll place kind of smallish bets initially, and then as I see progress, continue to increase those over time. And that's part of the reason why I go for pro rata rights as an angel, and oftentimes push for kind of a super p…”

“I mean, not everyone's going to want to give it to you, but you know, we're talking small dollars here, so it's not like you're kind of taking up a large round. Right, exactly. So it's not that big a deal.”

“Founders are put in this terrible situation of trying to do right by their early investors. And respect all of the contractual rights that they signed up for and new investors demanding minimum ownership thresholds. These founders are forced to either screw ov…”

“I actually don't try and ask people for pro rata rights, et cetera. I figure, you know what, if I'm a helpful added value investor and it's good for the company and it's good for them, then they'll go ahead and they'll give me an allotment and they'll be nice.”

“I think any time can make a decision without making a decision. It is a lazy approach”

“So our strategy has shifted over the years from we want to participate in every round until the company goes public and beyond, to we're going to Be incredibly concentrated early on, and then we're going to help those companies find the right partners to suppo…”

“Anybody that says they do pro rata always, I think, is lying. I just, I don't believe that to be the case, and I've seen enough, I've been in venture long enough to know that that's total bullshit.”

“Sometimes you know, we'll have to pass on our pro rata in those rounds because we think that the price, like we did many times last year, the price has just gotten too far ahead of itself.”

“I would say the data also that I've looked at, you know, from my own history doesn't, you know, because the winners can be just so if you're good at it, the winners can just be so big that you want to do prorata. So, you know, I it's like, it's a hard question…”

“I still think of, like, pro rot as, like, the original sin against entrepreneurs.”

“No, I think pro rata should be earned.”

“So I think a lot of the times that I've learned is like, hey, model in the pro rata, but you're only gonna get 70 or 80% of it.”