
Marc Andreessen on "Series Seed Documents" and Why VCs Should Start Using Them - pchristensen
http://www.pehub.com/64825/marc-andreessen-on-series-seed-documents-and-why-vcs-should-start-using-them/
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ryanhuff
This is great stuff, and is an example of how its the relationship that is
ultimately the most important for the attorneys.

I wish they took this to the next step and provided similar documents or
template for incorporation for your typical small tech startup. While legal
zoom and other cheap services can get you there, I am reminded of PG's
interview on Mixergy, and how he remarked about YC companies bringing in their
"broken" LLC's. Perhaps if there was a better template for startups to use
(both LLC and s-corp), these companies could be better positioned when they
get to the angel investor or vc stage.

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wglb
I would be curious what pg thinks of these documents.

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pg
I haven't seen them, but I applaud the idea. The Series AA documents we and
WSGR produced have been used by many startups and have saved them a great deal
of time and trouble.

<http://ycombinator.com/seriesaa.html>

The Series AA documents are intended for angel rounds, whereas it sounds like
the Series Seed documents, despite the name, are intended to be used with VCs.
It could be harder to talk VCs into using standardized documents, but it would
be great if that happened.

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jamesshamenski
Nope. the new docs are for angel rounds. Horowitz makes the point that VC's
should act like angels when in an angel round (when in rome).

I anticipate that both docs (YC + Andreessen/Horowitz are very similar. They
keep it simple so that shit doesnt get complicated if you make it to an A
round.

What's great is that lots of top notch folks have pledged to use them = a
standard is upon us.

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pg
Well, we know standard docs work in that situation. I hope once the Series
Seed docs are out, someone will publish an analysis of the diffs between them
and the Series AA docs.

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halffinn
i really applaud this type of approach. and i do think it's completely
appropriate given the ratio between legal fees and the money changing hands in
smaller rounds.

i do wonder how well this will play out globally. the world is increasingly
global, and a lot of companies end up taking rounds from investors in multiple
countries as they expand and enter new markets.

