It’s Exit Ownership - Not Entry Price - That Matters.
99d.substack.com
Entry Price (low for investors, high for founders) is just a hedge against dilution and inefficient growth. Pre/seed investors are obsessed with “low” entry prices as the way to make money. And founders are myopically focussed on “good” (high) valuations to minimize dilution. But investors and founders *should* care about business model quality, not entry price.
It’s Exit Ownership - Not Entry Price - That Matters.
It’s Exit Ownership - Not Entry Price - That…
It’s Exit Ownership - Not Entry Price - That Matters.
Entry Price (low for investors, high for founders) is just a hedge against dilution and inefficient growth. Pre/seed investors are obsessed with “low” entry prices as the way to make money. And founders are myopically focussed on “good” (high) valuations to minimize dilution. But investors and founders *should* care about business model quality, not entry price.