#Series A

Series A is the ritual in which founders delude themselves into believing they have resources, while postponing any talk of actual revenue models. It is a ceremony presided over by venture capitalists as sorcerers of valuation numbers, as the startup dreams of the next growth myth and marches willingly into equity dilution. The touted valuation is a mirage dancing on the negotiation table, and the applause it receives often conceals the thorn of liquidation preferences. It is the moment when, before tasting the sweet victory of capital, the chains of stock options clatter at your feet.