Brad Feld has an interesting insight on what some VC players usually say on certain instances, including the always contentious term sheet negotations:
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Term Sheet Negotiations (Ode to Matt Blumberg's Post) We bring more than money to the table: Uh - yeah. What would that be again? That's an industry standard term: Hint - there are no industry standards in the venture business. Don't worry about pre-money - we'll take care of you later: Did your mom ever says, "Honey - don't worry about the water - c'mon in, it's not too cold."? Don't focus on percentages: This is kind of like saying to a 747 pilot "don't bother paying attention to where the runway is - just land where ever you want." Don’t worry about that term, we’ll never actually enforce that: Um, right. |
Brad's piece also mentions Matt Blumberg's detailed article, also on the same topic of term sheet negotiation. Both entries are definitely worthwhile reading!