"I like Kevin said I'm going to talk about modern startup financing I have only been practicing law for 21 years so what's old and what's new only spans that timeframe for me but I've seen a lot of cha..."

"selling common stock so your option is to sell to investors a completely different class of stock called preferred stock preferred stock is more expensive before another kind of basic thing I never kn..."

"I think has changed a lot over the years is focus I just remember I don't ever remember anybody ever noticing how much time it took to do these financings in the past and how much focus it took away f..."

"think that that's something that has not changed over the years it's still super important to communicate so as I mentioned before the old way of raising early money was to do a series a preferred sto..."

"a long time it costs I just told you it could cost you know twenty-five to 100k on legal fees to do this so it's kind of a big deal but I think that the thing that was most broken about it was how inf..."

"Series A in your Series B your convertible promissory notes would convert into shares of series be when that financing happened but along the way and I honestly don't remember how this all came about ..."

"broken about convertible promissory notes they were only one document they were cheap they were fast well because we didn't think it made any sense to use debt to sell equity angel investors are not l..."

"eventually so so price rounds are still modern they're just not the modern way to raise your money the first time and also I should mention priced rounds even though it's kind of laughing at them beca..."

"flexible but you can end up with a ton of investors and we call that a party round right used to be that in the old days you'd maybe have six to ten investors and now you can have you know 25 35 diffe..."

"are completely common on the west coast I suspect that you guys will find angel investors and other people in your ecosystem out here that are less familiar with doing finance things this way so maybe..."

"crowdfunding so like yeah so great question you know I thought that was super and just since I've been practicing for 21 years like that's a huge change right and oh I'm sorry yeah ok he was running a..."

"holders and then go on and never need to nothing couldn't happen but it's pretty rare there's going to being a liquid I mean the founders want liquidity too right so how are the founders ever gonna ge..."

"I was like I I didn't build it for that you know it's a very simple document like it made me nervous thinking about it but it's fine it worked it's fine so it kind of depends on what your investors wa..."

"you can get the money from this person and you really want this person's money and you need to do it that's fine you know with the convertible promissory notes used to do is they would have a term she..."