Silicon Valley Startup Financing System
In 1999 a [silicon valley startup] founded by [an entrepreneur who sold his previous company] to [a great company you’ve heard of] raised money by selling [preferred stock at increasing valuations]. The “Silicon Valley Startup Governance System” has grown up a lot since then. 📝Linden Lab had raised only about $30 million before it became profitable; it was a unicorn before the term existed. Companies like Twitter, Facebook, and Instagram had launched, and Reddit and Wikipedia were in their infancy.
Today, a couple of decades later, incubators and accelerators have launched in every major city. The institutionalization of the process has empowered angels all over the world to bring capital to great people with great ideas. This is the system that is working, and we expect it will keep working.
At the same time, we are imagining an entirely new system: 📝Next Generation Venture Financing.