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How First-time Founders Got Screwed By Dirty Term Sheets

by businessinsider.com posted 5months ago 82 views
Summary List PlacementMarie's heart sank when she read the text message from her startup's angel investor. "Hey, I'm 10 minutes out. Order me a dirty martini," it read. She and her cofounder, Austin, were nervously waiting for the investor at an Italian restaurant in New York's Union Square. They knew his cocktail choice matched his mood. When the stock market was up, he ordered tequila on the rocks and made a generous follow-up investment in their company. When the market was down, it was dirty martinis and funding requests denied.

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