The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 8 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Frankel: Almost every company sale in my career was a mistake
“I look in the rear view mirror and I go, everything I've sold pretty much has been a mistake. So I'm a contrarian.”
Frankel: VCs often push startup sales to generate fund liquidity
“Often there is an investor on the cap table that's been there for a long time, and their model, it's like the tail wagging the dog here, their model is they need to see some liquidity for the next fund, so they're often very problematic reasons.”
Frankel: Founder-only secondary liquidity creates friction with executive teams
“Sometimes like the mistake we make is we take pressure out of the system by giving the founders some kind of liquidity. But we don't think enough about the rest of the team. And then the team's playing on the founders.”
Frankel: PayPal offered $100M to buy Olo before deal collapsed into $5M check
“Olo, PayPal offered to buy the business. PayPal came in and made a hundred million dollar offer, and literally, it was like Christmas, and that, that deal fell through. Noah and I were very disappointed. I remember, like, the 29th of December, they offered to …”
Frankel: Founder Collective Fund 1 had zero reserves for follow-ons
“Fund one was a literally Zero reserve fund. We were, there was no follow on. Zero. Like when we said we were seed and pre-seed, that's exactly.”
Frankel: Founder Collective owned roughly 12% of The Trade Desk at IPO
“We owned roughly 12% at IPO.”