Podcast appearances and mentions of manu kumar

In this Mother Day special podcast, Manu Kumar discusses the challenges and strategies of balancing motherhood and a career in the technology industry, as well as the potential role of AI in parenting. We wish all the mothers a Happy Mother's Day!

Charles Hudson and Manu Kumar are two of the best early-stage investors in the world. This week, they both penned meaningful essays declaring that the fundamentals of early-stage investing have changed, possibly permanently. Charles states: For the past 18 months, the Series A market has been very quiet. Outside of AI-related investments, it feels like deal volume is off 75%. The Series A investors I know don't feel any pressure to make investments and don't really seem that excited or interested in much these days. Unfortunately for seed-stage companies, the Series A market can remain on strike longer than most seed-stage companies can remain solvent. He predicts a significant dip in the number of seed-stage companies doing a Series A, a drop in Series As, and fewer extensions or bridge rounds. Manu Kumar of K9 Capital extends the theme and suggests only companies building real businesses with real customers and revenue will survive. He implores companies to understand the following: Early stage venture, particularly Pre-Seed and Seed stage venture, is a different game today than it used to be 10 years ago. LPs and GPs should be aware of this dynamic as they make investment decisions. This follows from Sam Lessin's theme a couple of weeks ago, declaring that the era of larger checks coming in at later rounds is now over. At Signalrank, we have always distinguished between organic unicorns, built over many years from the seed stage, and artificial unicorns created by a single large check in an early round. Organic is always best and can survive downturns. In this week's video of the week, Jaimie Rhode doubles down on the theme, explaining that in venture capital, only power-law companies matter. Those companies grow to valuations, enabling an entire fund to be returned or more. The venture capital industry relies on the few power law winners returning invested capital. In the heady days of 2019-2022, it was possible for a power-law company to emerge fast due to a single round of financing. And then quickly go on to do two or three more rounds within a year or two. Charles and Manu correctly point out that this is unlikely, except perhaps in AI. A power law winner will have to be built organically. The implication is that early-stage investing will need to become once again deliberate and patient. I use the word capitulation (with a question mark) in the title, but this is just a recognition of reality. Capitulation to reality is a good thing. So, no, it is not a capitulation. But it begs the question, can venture capital support wealth creation if it is really a lottery for a power law winner? Is there a way to benefit from the growth in venture-backed companies without needing to play the lottery of picking individual companies? --- Send in a voice message: https://podcasters.spotify.com/pod/show/thatwastheweek/message

Manu Kumar, Founder and Chief Firestarter of K9 Ventures, talks about how he balances being an investor and a founder. He shares unique insights from his experience founding Carta, HiHello and his other startups, and lessons from his high-conviction type of investing.In this episode, you'll learn:[3:32] Why solo GPs prioritize deal quality over quantity, and best ways to catch their attention[9:08] Entrepreneurs need to have strong conviction in their idea and show that they will take the leap, leave everything else and start their company.[14:59] Carta's tough time raising capital; investors thought it was “essentially replacing spreadsheets”[19:07] Why recruiting a founder rarely worksAbout Guest SpeakerDr. Manu Kumar is the Founder and Chief Firestarter of K9 Ventures, Co-Founder and CEO at HiHello, and the Co-founder, Investor, and Board Observer at Carta. He's also a board member in several companies, including Everlaw, enuma, Nexkey, Bugsee, Traptic, Crave.io Inc., Avoma, Forethought Technologies, Workona Inc., HiHello, Invisible AI, and Daughters of Rosie. Manu is a self-confessed entrepreneur at heart. He started his first company (SneakerLabs, Inc.) at the age of 20 with $5,000 from a summer internship.About K9 VenturesK9 Ventures is a Silicon Valley-based venture capital firm that invests in concept-stage and seed-stage technology startups in the San Francisco Bay Area. K9 Ventures has made more than 74 investments. More than 25% of them are diversity investments. The firm's most notable exits include Lyft, Twilio, and Osmo. Companies in its current portfolio include Teleo, Invisible AI, Avoma, Forethought, Nexkey, Everlaw among others.Subscribe to our podcast and stay tuned for our next episode. Follow Us:  Twitter | Linkedin | Instagram | Facebook

On this episode of How to Raise a Round, we sat down with Theo Miller– founder and CEO of Hit Start Media–to discuss his $600k Pre-Seed. Hit Start is a media production startup focused on creating strategic first-party podcast content, and produces several shows at Carta–including How to Raise a Round.Theo didn't start his career in tech–he actually was trained as an actor, and was working toward becoming a playwright. When the recession hit in 2008, he taught himself to code and design, and landed a job as a freelance designer.He was hired by Carta–or eShares as it was known at the time– as one of the first five employees. After the company began to rapidly scale, Theo felt that he no longer had a place there. After leaving Carta, Theo explored different podcasting styles with his friend, business partner, and early Carta team member, Zibbie Nwokah. After acquiring clients and regular revenue, the pair realized that Hit Start should be a media company that was software enabled, built for scale.As Hit Start took a more solid shape, Zibbie reached out to their network, finding a significant amount of interest from angel investors. Theo began looking for an investor who could lead his round, and offer some solid experience and advice as Hit Start began to scale.Theo was looking to reach out to Manu Kumar, co-founder of Carta. Manu is the founder and Chief Fire-Starter at the pre-seed fund K9 Ventures, and is regarded as one of the most renowned investors in Silicon Valley. When Theo emailed Manu asking for a meeting, he accepted immediately. From his experience as a writer and performer, Theo recognized that he couldn't just give Manu a rehearsed presentation and be done with it–he needed to tell a good story above anything else.Manu agreed to come on as Hit Start Media's lead investor and invest $500k in the company if Theo could secure the next $100k through his own connections. From there, he reached out to executives in his network who agreed to become angel investors.In April of 2021, Theo raised Hit Start's $600K Pre-Seed round, led by K9 Ventures and filled out by checks from three angel investors.Learn more about Hit Start Media ›

Sponsors: Purdue University Entrepreneurship Peter Fasse, patent attorney at Fish & Richardson Sal's Syndicate: Click to Join Ty Danco is an outlier in a population of outliers. His interests are varied and pursued passionately. He's founded two fintech companies, he's invested in a gazillion startups and he's been a hugely generous advisor to companies, in fact the chief advisor at Techstars. Oh, I forgot to mention he's an Olympian and also deeply involved with crypto-currencies. In this really meaty interview, Ty and I covered a wide range of topics. He explained his ideas in his affably quirky way. This was a super fun conversation. Quotes: "Danco, why are you here? You're a marketing guy." And I said that I was here to see Lever Brothers and he goes, "You idiot, you signed up for Lehman Brothers." “So, I took a leave of absence from school, and Wharton let me make up my remaining credits over the summer, and so I tried doing all three things at the same time. It was a success on paper, I did make the 84 [Olympic] team, I did complete the MBA, I did work at Lehman Brothers, but in truth I was overwhelmed, I did everything badly. I ended up breaking my heel and didn't compete in Sarajevo. I learned nothing in my last classes at school and I was just lost and floundering my first year on Wall Street. So, there's a pretty obvious lesson there about the need to focus and my inability to multi-task. That's maybe why they say focus on one metric that matters, don't try to do five balls in the air at once.” Topics covered include: Ty Danco's Bio How Ty Danco Stated His Career – Lehman Brothers vs. Lever Brothers – Olympic Team "Danco, why are you here? You're a marketing guy." And I said that I was here to see Lever Brothers and he goes, "You idiot, you signed up for Lehman Brothers." Ty Danco Doing Too Much Ty Danco and the Importance of Focus Ty Danco on the Cover of Sports Illustrated Ty Danco Moves from New York City to Burlington, Vermont Ty Danco Discovers that, Thanks to Michael Bloomberg, It Was Possible to Do Investing in Vermont Ty Danco Founds His First Startup - eSecLending Ty Danco Recalls Wall Street Misogyny of the Past – Women Found a Haven in Hugely Complex CMO Deals Ty Danco's Company is Hit by the Crash of 2008 Sal Daher Asks for you to Review the Podcast on iTunes – It Really Helps! Why Ty Danco's Second Startup Failed Ty Danco's Angel Investments Ty Danco Thinks Crypto-currencies Are Worthy Alternative Investments Ty Danco Believes One Can Eliminate Many Losers - But at a Cost Ty Danco's Philosophy of Angel Investing Why Mass Medical Angels Is the Only Angel Group Ty Danco Attends Why Ty Danco Does Not Invest Based on Cold Calls Ty Danco Reveals the Secret of Getting into Techstars Ty Danco Likes VCs Involved in Every Deal, Why? “Virtually all of my deals, 99% of the deals come not from me directly stumbling over something, but from a lead from my network.” Boston Angel Pantheon: Michael Mark, Joe Caruso and Jean Hammond What Are ICOs and Why should VCs be Scared of Them? Some of Ty Danco's Favorite Startups Ty Danco's Categorization of Mentoring Styles What Sets Accelerators Apart in Ty Danco's Estimation Ty Danco Takes a Page from Manu Kumar in Starting His Next Venture Topics: fintech, crypto, angel investing strategies, techstars

This episode is also available as a blog post: https://changningliu.com/2021/06/25/marketing-without-advertising-manu-kumar-jain-tedxiiftdelhi/

Back in 2014, hardly anyone in India knew about Xiaomi. They had zero market share and adopted an online-first distribution plan, which was unheard of at the time for smartphone brands. Today, Xiaomi is a clear market leader, with over 28% of the smartphone market in India. They sold over 10.5 million units just in Q1 2021 & have more than 3000 stores across India. We spoke to the man behind the brand, Manu Kumar Jain, Global VP and MD of Xiaomi India. Here are some of the key points we cover in this #KalaariPodcast:Building a mass consumer brandHiring and motivating leadership teams from scratchThe India opportunity for the next decade#Technology #Marketing #Leadership #BehindTheSchenes #India #EntrepreneurshipWhen it comes to #startups, there is no fast track to #success. Almost all startup teams go through a variety of crises and challenges Behind The Scenes. Having been a part of many startup journeys over the last decade at Kalaari, we believe that there are valuable lessons to be gained from the journeys of others. These episodes from Kalaari come from our continued commitment to empower and encourage #entrepreneurship.If you have any suggestions, please reach out to us at podcast@kalaari.com. We would love to hear from you.For more podcasts, visit our website- https://www.kalaari.com/podcast 

Manu Kumar is redefining venture by focusing on building. Learn more about K9 Ventures ›

Manu Kumar is the Founder @ K9 Ventures, one of the leading seed firms of the last decade with a portfolio including the likes of Carta, Lyft, Twilio, Auth0 and Lucidchart to name a few incredible companies. Prior to K9, Manu was either the founder or co-founder of 4 companies, 3 of which with successful exits and the 4th being the fantastic Carta. Manu also has an incredible model with K9 where he not only invests in companies but also founds them and is currently the founder and CEO @ HiHello, the company that allows you to network smarter providing digital business cards designed to help you curate and grow your network.  In Today’s Episode You Will Learn: 1.) How Manu made his way into the world of venture having founded 4 prior companies and how he came to found K9 and be one of the OG's of pre-seed funding, having coined the term? 2.) What does Manu believe have been the biggest and most significant changes in the early stage market over the last 7 years? How does Manu evaluate the rise of operator and scout funds? Would Manu agree with Semil Shah, "founders are voting with their feet and taking multi-stage money at seed?" What advice does Manu give to founders on taking multi-stage money at seed? How does Manu evaluate their aggressive movement back into the seed stage? Why is it? 3.) Given Manu only makes 3-4 new investments per year, how does Manu think about and assess his own portfolio construction today? How does Manu think about building temporal diversification into the portfolio? What does Manu believe is the biggest mistake early-stage managers make in the first few years? Why does Manu believe that "group think" is so dangerous for funds today? What can they do deliberately to avoid it? 4.) Manu not only invests but also founds companies at the same time, how does Manu split his time and what does his day look like? What are the benefits of investing and operating simultaneously? What are the biggest challenges and drawbacks? What elements did Manu believe as an investor before starting his new company, HiHello, that he has now changed his mind on, post founding the company? Items Mentioned In Today’s Show: Manu’s Fave Book: How to Win Friends and Influence People Manu’s Most Recent Investment: Workona: A Better Way To Work As always you can follow Harry, The Twenty Minute VC and Manu on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.  

Dr. Manu Kumar covers how HiHello is reworking the concept of a business card.

We continue with the #InsightsPodcast series, and on this edition we have with us Manu Kumar Jain, Managing Director of Xiaomi India- a leader in smartphones, televisions, and many other products. Manu walks us through the journey of setting up Xiaomi in India and scaling it to become one of the best mobile phone brands in India in a very capital efficient way. Starting by talking about his childhood days, Manu remembers growing up in Meerut in a large family with a business background, where the ultimate aspiration was to set up shop- the larger the shop the more successful one was. Unlike most of his cousins, Manu decided to pursue engineering from IIT Delhi and then did his MBA from IIM Calcutta, post which he worked with Mckinsey for five years before co-founding Jabong. He ran Jabong for 2 years before moving out and then joined Xiaomi to start their India business. Talking about Early days at Jabong, Manu gets candid about how his first thoughts on selling fashion online was that “it was a stupid idea”, but after some persuasion from his co-founders he was able to take the leap of faith, only to get pleasantly surprised that a lot of people were willing to buy shoes and clothes online. Riding on the wave of mobile first online consumers, Jabong grew from thousand orders a day to ten thousand orders a day, to become a top two player in the online fashion space. Hugely fascinated about mobile as a category and having heard about a Chinese company trying to do things differently by online as the primary channel for sales, Manu connected with the founders through his network out of pure interest to learn more about the company's journey. After multiple exchanges between Manu and the founders, sharing learnings with each other on the China and India landscape, Lin Bin, Co-Founder & President of Xiaomi, offered Manu to join them to start their India business. At a time when India had more than 300 smartphone brands, Xiaomi went ahead with an online only sales strategy when everyone else was spending huge marketing dollars on advertising and sponsorships. From very early on, the expectation from the board was to be profitable and not burn at a day-to-day operations level. This led Xiaomi to take a product focused approach and leverage social media to take its consumer delight story to the masses. What others spent on marketing, Xiaomi spent on quality of the phone giving the customer a better hardware and a better camera. “We can't make more than five percent margin from any of our hardware products by board resolution. We believe in a concept called as honest price. We cut down all possible costs like marketing, distribution, working capital, inventory cost and pass on that benefit to the user without keeping a profit margin for ourselves.” The social media angle that bolstered Xiaomi's rise to the top continues to be a core part of today's focus. Mi community today has more than 70 million MAUs and physical fan clubs in more than 25 cities. Finally, sharing learnings for young entrepreneurs, Manu talks about the importance of having mentors who do not have a vested interest in your company or you, so that the conversations are brutal and honest. Last but not the least, Manu stresses about the importance of investing in the team and ensuring that good performers grow within the company, from both and equity and cash perspective. Spending time with the team has always been in the top three priorities for Manu. “One-on-one or group sessions are not only meant for year-end appraisals but should be a part of your weekly and monthly schedule time. And these are not performance reviews but to ask how they're feeling, how they're growing and for discussing about stuff informally too, within work and outside work.” Tune in to the podcast to hear more interesting bits and insights from Manu's journey of scaling Xiaomi to its today's scale.

Manu Kumar is the founder of K9 Ventures, a technology-focused Pre-Seed fund based in Palo Alto, California. K9 Ventures was the first "pre-seed" venture firm in the industry, and Manu was the first investor in companies like Twilio, Lyft, Carta, Crowdflower, and many more. Manu has a truly unique outlook on the VC business, and has a highly disciplined (and successful) investment model that he's stuck with since the beginning. In this episode, we discuss Manu's time at Carnegie Melon and Stanford, where he received his PhD, his success as an entrepreneur, how he started K9 as a solo GP, his unique investment approach and portfolio construction strategy, and how he is planning to build K9 Ventures in the decades to come.

In episode 17 of Venture Confidential, Manu Kumar stops by the Heavybit studio to talk about how he started a micro VC called K9 Ventures and why he chooses to invest in and help grow early stage companies.

In episode 17 of Venture Confidential, Manu Kumar stops by the Heavybit studio to talk about how he started a micro VC called K9 Ventures and why he chooses to invest in and help grow early stage companies. The post Ep. #17, Feat. Manu Kumar of K9 Ventures appeared first on Heavybit.

Ty Danco is an outlier in a population of outliers. His interests are varied and pursued passionately. He’s founded two fintech companies, he’s invested in a gazillion startups and he’s been a hugely generous advisor to companies, in fact the chief advisor at Techstars. Oh, I forgot to mention he’s an Olympian and also deeply involved with crypto-currencies. In this really meaty interview, Ty and I covered a wide range of topics. He explained his ideas in his affably quirky way. This was a super fun conversation. Quotes: "Danco, why are you here? You're a marketing guy." And I said that I was here to see Lever Brothers and he goes, "You idiot, you signed up for Lehman Brothers." “So, I took a leave of absence from school, and Wharton let me make up my remaining credits over the summer, and so I tried doing all three things at the same time. It was a success on paper, I did make the 84 [Olympic] team, I did complete the MBA, I did work at Lehman Brothers, but in truth I was overwhelmed, I did everything badly. I ended up breaking my heel and didn't compete in Sarajevo. I learned nothing in my last classes at school and I was just lost and floundering my first year on Wall Street. So, there's a pretty obvious lesson there about the need to focus and my inability to multi-task. That's maybe why they say focus on one metric that matters, don't try to do five balls in the air at once.” Topics covered include: Ty Danco’s Bio How Ty Danco Stated His Career – Lehman Brothers vs. Lever Brothers – Olympic Team "Danco, why are you here? You're a marketing guy." And I said that I was here to see Lever Brothers and he goes, "You idiot, you signed up for Lehman Brothers." Ty Danco Doing Too Much Ty Danco and the Importance of Focus Ty Danco on the Cover of Sports Illustrated Ty Danco Moves from New York City to Burlington, Vermont Ty Danco Discovers that, Thanks to Michael Bloomberg, It Was Possible to Do Investing in Vermont Ty Danco Founds His First Startup - eSecLending Ty Danco Recalls Wall Street Misogyny of the Past – Women Found a Haven in Hugely Complex CMO Deals Ty Danco’s Company is Hit by the Crash of 2008 Sal Daher Asks for you to Review the Podcast on iTunes – It Really Helps! Why Ty Danco’s Second Startup Failed Ty Danco’s Angel Investments Ty Danco Thinks Crypto-currencies Are Worthy Alternative Investments Ty Danco Believes One Can Eliminate Many Losers - But at a Cost Ty Danco’s Philosophy of Angel Investing Why Mass Medical Angels Is the Only Angel Group Ty Danco Attends Why Ty Danco Does Not Invest Based on Cold Calls Ty Danco Reveals the Secret of Getting into Techstars Ty Danco Likes VCs Involved in Every Deal, Why? “Virtually all of my deals, 99% of the deals come not from me directly stumbling over something, but from a lead from my network.” Boston Angel Pantheon: Michael Mark, Joe Caruso and Jean Hammond What Are ICOs and Why should VCs be Scared of Them? Some of Ty Danco’s Favorite Startups Ty Danco’s Categorization of Mentoring Styles What Sets Accelerators Apart in Ty Danco’s Estimation Ty Danco Takes a Page from Manu Kumar in Starting His Next Venture Visit our home page:Angel Invest Boston Web Page Sign up for our live events at: Opt In Link

Henry Ward is the Founder & CEO @ eShares, the No 1 cap table management platform providing equity management, 409A valuations and liquidity all in one place. They are backed by leading investors and past guests including USV, SV Angel, Spark Capital, Semil Shah, Manu Kumar, Tim Draper and Kamal Ravikant, just to name a few. Prior to eShares, Henry was Founder @ SecondSight, the first registered investment advisor to go direct to your brokerage and improve your portfolio. In Today’s Episode You Will Learn: 1.) How Henry made his way into the world of startups and came to found eShares? 2.) How does Henry challenge the notion that investors should have such high fail rates? How does Henry believe investors can build a strong and sustainable portfolio without home runs? 3.) Why does Henry believe that investors will never accept market risk? How much of a role does Henry believe herd mentality plays in the VC ecosystem? 4.) How does Henry view the increasing exit horizons for startups? Is this a problem? How can we create liquidity options pre large exits? 5.) How does Henry view the role of regulation in private markets? How does this differ to public markets? What would Henry like to see change in the VC ecosystem? Items Mentioned In Today’s Show: Henry’s Fave Blog: Hacker News Henry’s Fave Book: The Essays Of Warren Buffett As always you can follow Harry, The Twenty Minute VC and Henry on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Simba Hybrid. The most advanced mattress in the world. With a unique combination of two thousand five hundred conical pocket springs and responsive memory foam, it offers the perfect support for two people. A mattress that responds to you and your partner’s sleeping patterns. Delivered free, with a one hundred night sleep trial, free returns and a ten year guarantee. Start your free trial at simbasleep.com Cirrus Insight is a plugin for sales pros who use Gmail and Outlook.  It automatically updates activities in Salesforce so you don’t have to.  It was named #41 on the Inc. 500 list of fastest-growing companies, and it has more than 1,700 customer reviews on the Salesforce AppExchange. Today, it serves over 150,000 sales people across 5,000 organizations using Gmail, Outlook, iPhone, iPad, and Android. Cirrus Insight is perfect for sales, support, and success teams who want to save time, schedule 3x more appointments, track email opens and much more with Salesforce information at their fingertips in the inbox. www.cirrusinsight.com/20VC

I set out to meet passionate tea maker Manu Kumar in his laboratory of goodness, tucked away in a Kreuzberg backyard. We chat about the his secrets for healthy living and why Berlin is so exciting for people with sustainable ideas, visions and dreams. If you're enjoying this episode, please subscribe to the show and leave me a short review on iTunes to help me spread the word. And also send me your feedback to claudi@greenmeberlin.com Do you want to live a greener, healthier, happier life? Then join my 10 Day Challenge: Green Up Your Life. Starting on 10th January 2017. Let's rock this! Lots of love, Claudi    

Manu Kumar founder and Chief Firestarter at K9 Ventures, a pre-seed and seed stage micro-VC fund based in Palo Alto, according to K9 they invests ‘frighteningly early’ and like to be the first institutional capital invested in a startup. K9 is an investor in Lyft, Twilio, Occipital, eShares, and their companies have been acquired by the likes of Linkedin, Facebook, Dropbox, Paypal and more. Prior to K9, Manu was either the founder or co-founder of 4 companies, 3 of which with successful exits and the 4th being the fantastic eshares!  In Today’s Episode You Will Learn: 1.) How did Manu come to found K9 and what was his route into VC? How does Manu define entrepreneurialism and how did this play out in his early life? 2.) “The best buys are found in things most people don’t understand or believe in.” How does this play out in Manu's investment strategy?  ? 3.) “The riskiest thing is the belief there’s no risk.” How does risk assessment feature in Manu's investment mentality? How does Manu transition this to your portfolio construction? ? 4.) Josh Koppelman states “What has to be remembered is the defining role of price.” How much of a role does valuation play in Manu's investment decision making process? 5.) “An absence of losses can give you a great start toward a good outcome.” As a seed fund how does Manu approach inevitable losses? How does Manu try and minimize mortality rate? Items Mentioned In Today’s Episode:  Manu’s Fave Book: The Cuckoo's Egg by Clifford Stoll Manu’s Fave Blog: Strictly VC, Dan Primack: Term Sheet Manu’s Most Recent Investment: GradeScope As always you can follow The Twenty Minute VC, Harry and Manu on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session, you can follow him on Instagram here!   The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order completely online and ships for free to your doorstep. The 10 inch mattress comes in all sizes and is engineered with 3 unique foam layers for a universal, adaptive feel, including 2 inches of memory foam and 2 inches of a really cool latex foam called Avena, design to keep you cool. All Leesa mattresses are 100% US or UK made and for every 10 mattresses they sell, they donate one to a shelter. Go to Leesa.com/VC and enter the promo code VC75 to get $75 off!

FounderLine host Joe Beninato and guest Manu Kumar of K9 Ventures answer listener questions including: - Describe an instance where you had to be persistent to get a deal done or hire someone. How did you balance being persistent and not being pain in the neck at the same time? - Every investor says the best way to reach them is through their network. What is the best way a founder with engineering background who does not have a network, start building their network that will vouch for them? - Why do you require your founders to be technical as opposed to having a mix of business and technical?  Are there any drawbacks to having an all technical team? - It seems that seed stage investors have different perspectives on taking board seats. Can you please share you thoughts on this topic? - What is your stance on startups offering early exercise (83B) to their employees?