Facebook's early secondary trading caused venture to adopt blanket transfer restrictions
Christian Garrett · Christian Garrett (137 Ventures) on Investing and Markets · Mar 27, 2025 · at 12:50
Christian Garrett, Partner at 137 Ventures, explains how rights of first refusal proved insufficient for Facebook, leading the venture ecosystem to adopt blanket transfer restrictions.
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“Once other venture companies saw this, they implemented basically blanket transfer restrictions. And that has been the default ever since.”
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