Everything Breen Sullivan said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Sullivan: Investors only bet on the founder for 2% of entrepreneurs
“If you are not part of that, you know, kind of two percent of entrepreneurs that fall into that lucky bucket, then, you know, people are not likely to bet on the jockey. They're gonna have to see the horse. And that's, you know, that a lot of times that's call…”
Sullivan: VCs should mandate advisory boards before writing checks
“No VC is writing a check to a startup that doesn't have financial advisory in intact. Like you have to, as a founder, you have to have a financial model. You have to have thought through your Revenue streams and the business plan. There has to be some like kin…”
Sullivan: 14% of the population holds over 90% of corporate equity
“It's only 14% of the population. They have 90 plus percent of all of the equity and all of the board seats.”
Sullivan: Bootstrapping longer builds stronger, more investable companies
“The longer you can go bootstrapping, you know, the, you build, the more you build that you own. And so a lot of times bootstrapping can be a secret weapon and can have incredible advantages. And I think build stronger, more investable companies in the longterm…”
Sullivan: Tying angel investments directly to advisory board seats helps secure checks
“One of the ways that we help our founders secure those angel checks is by directly connecting an angel check to their advisory board.”
Sullivan: Startup advisory board experience helps advisors win promotions and raises
“Those advisors are getting value because those advisors get to go out in the world in their careers. They have for-profit board experience. It helps them. Get promoted, negotiate for a raise, have access to bigger opportunities.”
Sullivan: Founders should grant short-term vesting advisory equity to reach funding milestones
“These people, you're going to give them a teeny, teeny, little, teeny sliver of equity that's going to vest month over month for a short period of time, and these people are going to achieve these really important milestones for your company so that you can ge…”
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