The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective
David Frankel
I would disagree with Nick because I would say prefs are fundamental, saying you should give your investor their money back before you kind of distribute the spoils to everybody. I think that's a fair tenet. I think most entrepreneurs would go, yeah, giving them their money back is fair. I remember in Uber, by the way, we had preferred shares.
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