Jason Kirby’s Post

Season 2 of #FundraisingDemystified is taking a summer break 🏖️ 📢 As we all know, the VC world tends to slow down during the summer months. Sand, surf, and sunscreen become the priority as people (myself included) take well-deserved vacations. With that in mind, I've decided to conclude season 2 of Fundraising Demystified and return on September 12, 2024. We're using this time to work closely with our current clients, preparing them for the fundraising push, and we need to focus on their priorities. 🚀 I promise to return with even more valuable insights and exciting guests when we kick off again on September 12, 2024. with fresh episodes. 🎧 In the meantime, feel free to revisit our past episodes on YouTube, Spotify, and Apple Podcast. Don't forget to subscribe and leave a review on our podcast platforms to help us grow and improve. If there's anyone's story you want to hear, tag them in the comments. And if you want to share your fundraising story, DM me. Thank you for your ongoing support, and enjoy your summer! 😎

🗓 Next week, I'm speaking about #bootstrapping vs #fundraising at the virtual Angel & Accelerator Online Conference on August 28th. To get your free invite, comment on the post and connect to host Max Pog. He'll send the invitation to join. Join 1,000+ angels, VCs, family offices, & startup founders including folks from Techstars, AngelList, Antler, Hustle Fund , UMG Idealab , Everywhere Ventures, B Capital, and PSL Group, Moderated by journalists from TechCrunch, Business Insider, & The Information. Save the date!

Can writing 13 Machine Learning (#ML) books lead to AI startup success and a VC career? Prateek Joshi's journey proves it's possible! Scroll to find out: ✅ His secret to securing investment as an immigrant founder ✅ The visa hurdle that almost derailed his #startup ✅ How he built an #AI company raising $16M+ ✅ His transition from founder to VC ICYMI: Watch our chat on the #FundraisingDemystified podcast to hear more about his journey from author, to founder, to VC: https://lnkd.in/gdVysBzH

Is Bolt’s new $450M raise bold or reckless? I just saw this news (https://lnkd.in/eq9PxW8U)- Ryan Breslow is back at the helm, driving Bolt.com to a $14 billion valuation, not long after a $300 million stock buyback valuation that crushed the spirits of their employees who exercised their options at their last valuation. I'm all for founder-led companies with a little dash of crazy, but I don't like the smell of this new raise at all This dramatic turnaround, fueled by international investors, raises more questions than confidence. Breslow’s move feels more like an Adam Neumann-inspired hype play than a true growth strategy. The focus is on challenging Stripe and fueling FOMO, not on sustainable fundamentals. For founders and investors, this is a reminder: don’t let flashy narratives blind you to the reality of valuations. I’m all for supporting founder-led companies—it takes a little crazy to be a founder at this scale—but this one might be a step too far IMO. What’s your take on this announcement? All hype or the next Stripe killer?

📣 New week, new #FundraisingDemystified issue! This time I talk #Founder-Market Fit. I've talked about product-market fit before, but are you the right founder to scale your idea? #PMF #FMF Check out the latest edition to find out. Want to receive the newsletter direct to your inbox? Subscribe now: https://lnkd.in/egSn4K6t

I talked about this last week; facing a down round can be daunting, but it's not the end of the road. Following that, I put together a guide to managing and even preventing a down round effectively. 1. Decreasing Cash Burn: The First Line of Defense The immediate step to stave off a down round is reducing your startup's cash burn rate. This might mean making tough decisions like downsizing the team, prioritizing high-impact projects, or cutting ties with unnecessary vendors. 2. Exploring Creative Financing Options When traditional funding becomes scarce, thinking outside the box becomes essential. Here are a few less conventional funding avenues: Tranche Financing: Funds are released as your company meets specific milestones, rather than all at once. Venture Debt: This type of debt financing helps bridge gaps between equity rounds without diluting ownership. BTW, if you are looking for venture debt- talk to me: https://lnkd.in/e_6RhmA4 Small Business Loans: These may offer longer payback periods, easing immediate financial pressures. Equity Crowdfunding: Platforms that allow you to reach a broad audience of potential investors, including those who are not accredited. 3. Understanding the Dynamics of a Down Round Investors will be eyeing startups with controlled cash burn, low customer acquisition costs, and potential for high-profit margins. You must also understand investor rights and preferences. These can cover things like liquidation preferences, participation rights, and anti-dilution protections. 4. Minimizing Stakeholder Impact A down round affects not just your valuation but your stakeholders too, particularly those holding equity. Dilution is a significant concern, as it decreases the ownership percentage of existing shareholders. Actions to consider: Review previous funding rounds' terms to understand the implications for preferred stockholders. Consider measures to mitigate employee impacts, such as repricing stock options or offering new equity grants. 5. After the Down Round: What Next? Post-down round, your focus should shift to managing cash efficiently and preparing for sustainable growth. Use scenario modeling tools, whether you’re using a spreadsheet or CRM, for better financial planning and establish a conservative budget. 6. Supporting Your Team Post-Down Round Consider offering equity grants or cash payouts to affected employees to boost morale and loyalty, providing immediate financial relief and aligning their interests with the company's future. Remember, while a down round may seem like a setback, it also provides an opportunity to realign your #business strategy with current market realities. With the right approach, you can turn this challenge into a stepping stone for future success. #FundraisingDemystified

Imagine a small-town kid from India, armed with nothing but a laptop and a dream, penning 13 AI books before most of us even heard of ChatGPT. Fast forward a few years, and he's sitting pretty as an exited #founder and sought-after #VC in the heart of Silicon Valley. Sounds like fiction? I would have called 💩 before I talked to Prateek Joshi. Prateek's story isn't your typical rags-to-riches tale. It's a rollercoaster of visa struggles, cold emails, and enough pivots to make your head spin. But here's the kicker - he cracked the Silicon Valley code without a single connection to start with! Want to know his secret? Prateek says it's not about sprinkling #AI fairy dust on everything. In fact, he's shocking founders by telling them to strip AI away from their pitch. That’s not all, this Nvidia AI alum turned the fundraising game on its head. Forget everything you know about sequential pitching. Prateek's unconventional approach? Create a bidding war for your #startup's shares. It's not just about the pitch; it's about the demand you generate. From "Snowflake for X" strategies to the power of compounding in startup life, Prateek's journey is a masterclass in tech entrepreneurship. He's not just building companies; he's rewriting the playbook. Curious how he went from 0 to seed-stage VC? The full story is too juicy for LinkedIn. Catch the entire interview on Episode 54 of #FundraisingDemystified here: https://lnkd.in/gdVysBzH Trust me, your startup journey will never be the same!

How did Michael Markesbery turn a cold climb into a multi-million dollar insulation breakthrough? Dive into the full story of OROS Labs' groundbreaking journey! Swipe now to uncover the secrets behind their $50M success and revolutionary insulation technology. #FundraisingDemystified #startups #VC #DeepTech

I'll be presenting alongside some amazing names in the venture and startup community. If you haven't registered already, then you should

🤔 Should #investors ask for their money back if a #startup pivots? While it’s easy to villainize investors who pull the plug, what if they actually had a point? I share some thoughts in the latest edition of the #FundraisingDemystified newsletter this week. What's your take?