{"id":3088,"date":"2015-07-18T11:34:07","date_gmt":"2015-07-18T16:34:07","guid":{"rendered":"http:\/\/www.bytebot.net\/blog\/?p=3088"},"modified":"2015-07-18T11:34:07","modified_gmt":"2015-07-18T16:34:07","slug":"recapping-rounds","status":"publish","type":"post","link":"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds","title":{"rendered":"Recapping rounds"},"content":{"rendered":"<p>I read with great interest (including the comments thread) about recapping seed rounds by both <a href=\"http:\/\/feld.com\/archives\/2015\/07\/silliness-recapping-seed-rounds.html\">Brad Feld<\/a> and <a href=\"http:\/\/gothamgal.com\/2015\/07\/recapping-a-round\/\">Joanne Wilson<\/a>. Reprehensible beahviour. Also in general angels don\u2019t go in more than the first round.<\/p>\n<p>Which brings me to a general worry\/concern &#8211; companies where early employees become minority shareholders (not option holders, shareholders). Where they pay their first few salaries in exchange for shares. Or if after some M&amp;A activity, folk become shareholders. One can easily own 1% or more of a company this way.<\/p>\n<p>When the going gets tough, vultures do come along.<\/p>\n<div class=\"sharedaddy sd-sharing-enabled\"><div class=\"robots-nocontent sd-block sd-social sd-social-icon-text sd-sharing\"><h3 class=\"sd-title\">Share this:<\/h3><div class=\"sd-content\"><ul><li class=\"share-email\"><a rel=\"nofollow noopener noreferrer\" data-shared=\"\" class=\"share-email sd-button share-icon\" href=\"mailto:?subject=%5BShared%20Post%5D%20Recapping%20rounds&body=http%3A%2F%2Fwww.bytebot.net%2Fblog%2Farchives%2F2015%2F07%2F18%2Frecapping-rounds&share=email\" target=\"_blank\" title=\"Click to email a link to a friend\" data-email-share-error-title=\"Do you have email set up?\" data-email-share-error-text=\"If you&#039;re having problems sharing via email, you might not have email set up for your browser. You may need to create a new email yourself.\" data-email-share-nonce=\"70326d79f1\" data-email-share-track-url=\"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds?share=email\"><span>Email<\/span><\/a><\/li><li class=\"share-facebook\"><a rel=\"nofollow noopener noreferrer\" data-shared=\"sharing-facebook-3088\" class=\"share-facebook sd-button share-icon\" href=\"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds?share=facebook\" target=\"_blank\" title=\"Click to share on Facebook\" ><span>Facebook<\/span><\/a><\/li><li class=\"share-linkedin\"><a rel=\"nofollow noopener noreferrer\" data-shared=\"sharing-linkedin-3088\" class=\"share-linkedin sd-button share-icon\" href=\"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds?share=linkedin\" target=\"_blank\" title=\"Click to share on LinkedIn\" ><span>LinkedIn<\/span><\/a><\/li><li class=\"share-twitter\"><a rel=\"nofollow noopener noreferrer\" data-shared=\"sharing-twitter-3088\" class=\"share-twitter sd-button share-icon\" href=\"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds?share=twitter\" target=\"_blank\" title=\"Click to share on Twitter\" ><span>Twitter<\/span><\/a><\/li><li class=\"share-end\"><\/li><\/ul><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>I read with great interest (including the comments thread) about recapping seed rounds by both Brad Feld and Joanne Wilson. Reprehensible beahviour. Also in general angels don\u2019t go in more than the first round. Which brings me to a general worry\/concern &#8211; companies where early employees become minority shareholders (not option holders, shareholders). Where they [&hellip;]<\/p>\n<div class=\"sharedaddy sd-sharing-enabled\"><div class=\"robots-nocontent sd-block sd-social sd-social-icon-text sd-sharing\"><h3 class=\"sd-title\">Share this:<\/h3><div class=\"sd-content\"><ul><li class=\"share-email\"><a rel=\"nofollow noopener noreferrer\" data-shared=\"\" class=\"share-email sd-button share-icon\" href=\"mailto:?subject=%5BShared%20Post%5D%20Recapping%20rounds&body=http%3A%2F%2Fwww.bytebot.net%2Fblog%2Farchives%2F2015%2F07%2F18%2Frecapping-rounds&share=email\" target=\"_blank\" title=\"Click to email a link to a friend\" data-email-share-error-title=\"Do you have email set up?\" data-email-share-error-text=\"If you&#039;re having problems sharing via email, you might not have email set up for your browser. You may need to create a new email yourself.\" data-email-share-nonce=\"70326d79f1\" data-email-share-track-url=\"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds?share=email\"><span>Email<\/span><\/a><\/li><li class=\"share-facebook\"><a rel=\"nofollow noopener noreferrer\" data-shared=\"sharing-facebook-3088\" class=\"share-facebook sd-button share-icon\" href=\"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds?share=facebook\" target=\"_blank\" title=\"Click to share on Facebook\" ><span>Facebook<\/span><\/a><\/li><li class=\"share-linkedin\"><a rel=\"nofollow noopener noreferrer\" data-shared=\"sharing-linkedin-3088\" class=\"share-linkedin sd-button share-icon\" href=\"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds?share=linkedin\" target=\"_blank\" title=\"Click to share on LinkedIn\" ><span>LinkedIn<\/span><\/a><\/li><li class=\"share-twitter\"><a rel=\"nofollow noopener noreferrer\" data-shared=\"sharing-twitter-3088\" class=\"share-twitter sd-button share-icon\" href=\"http:\/\/www.bytebot.net\/blog\/archives\/2015\/07\/18\/recapping-rounds?share=twitter\" target=\"_blank\" title=\"Click to share on Twitter\" ><span>Twitter<\/span><\/a><\/li><li class=\"share-end\"><\/li><\/ul><\/div><\/div><\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_options":[]},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4vJD-NO","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2945,"url":"http:\/\/www.bytebot.net\/blog\/archives\/2014\/07\/06\/keeping-citizens-data-in-local-data-centers","url_meta":{"origin":3088,"position":0},"title":"Keeping citizens data in local data centers","date":"6\/7\/2014","format":false,"excerpt":"Moscow has just made waves by trying to tell web services at personal data of local Russians needs to be stored on Russian soil - see: Moscow seeks to tighten grip online (it's an FT link which is behind a paywall, but surely a search will find similar articles). Not\u2026","rel":"","context":"In &quot;General&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1051,"url":"http:\/\/www.bytebot.net\/blog\/archives\/2008\/09\/21\/on-corruption","url_meta":{"origin":3088,"position":1},"title":"On corruption","date":"21\/9\/2008","format":false,"excerpt":"A few weeks ago, I attended a fiduciary bootcamp. I didn't even know what it meant. \"involving trust, esp. with regard to the relationship between a trustee and a beneficiary : the company has a fiduciary duty to shareholders.\" It was generally not a productive use of my time, but\u2026","rel":"","context":"In &quot;General&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2179,"url":"http:\/\/www.bytebot.net\/blog\/archives\/2011\/09\/09\/demographics-play-a-role-in-this-prepaid-service-tax-pushback","url_meta":{"origin":3088,"position":2},"title":"Demographics play a role in this prepaid service tax pushback","date":"9\/9\/2011","format":false,"excerpt":"I tweeted yesterday: Why are prepaid users any different from postpaid users when it comes to GST? Demographics. People are up in arms, and the youth division of the incumbent and opposition political parties seem to think this is bad. Postpaid users have been paying the 6% tax since 2011,\u2026","rel":"","context":"In &quot;General&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":796,"url":"http:\/\/www.bytebot.net\/blog\/archives\/2008\/04\/17\/what-mysql-can-learn-from-postgresql","url_meta":{"origin":3088,"position":3},"title":"What MySQL Can Learn from PostgreSQL","date":"17\/4\/2008","format":false,"excerpt":"Hi! So this is completely my notes taken from the conference, without my thoughts attached to it. I should definitely post a lot more about this, and how the community can \"improve\" in time. Just not today. Believe me, sitting in the talk, was highly painful, and I'm wondering where\u2026","rel":"","context":"In &quot;MySQL&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1714,"url":"http:\/\/www.bytebot.net\/blog\/archives\/2010\/03\/05\/marina-crying-foul-over-censorship","url_meta":{"origin":3088,"position":4},"title":"Marina crying foul over censorship?","date":"5\/3\/2010","format":false,"excerpt":"Marina Mahathir, daughter of former Prime Minister of Malaysia, Dr. Mahathir, is crying foul in The Column That Wasn't. Apparently, she has a Musings column in the local daily, The Star, and her column will be amiss for a week, due to the sensitive nature of the article. A few\u2026","rel":"","context":"In &quot;General&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2489,"url":"http:\/\/www.bytebot.net\/blog\/archives\/2012\/09\/07\/quotable-on-10genmongodb","url_meta":{"origin":3088,"position":5},"title":"Quotable on 10Gen+MongoDB","date":"7\/9\/2012","format":false,"excerpt":"Via Pandodaily\u00a0(an article you definitely should read): The company has big plans. 10Gen\u2019s vision is to build a software platform company akin to Redhat or Oracle, Schireson says. \u201cThat\u2019s the type of company we want to build,\u201d he says. \u201cThose companies don\u2019t get acquired.\u201d -- 10gen President,\u00a0Max Schireson I'm glad\u2026","rel":"","context":"In &quot;Databases&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/posts\/3088"}],"collection":[{"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/comments?post=3088"}],"version-history":[{"count":1,"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/posts\/3088\/revisions"}],"predecessor-version":[{"id":3089,"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/posts\/3088\/revisions\/3089"}],"wp:attachment":[{"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/media?parent=3088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/categories?post=3088"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.bytebot.net\/blog\/wp-json\/wp\/v2\/tags?post=3088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}