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If Lyft is trading down when the lockup expires, the IRS still takes their cut at $78.29 a share. That means employee tax rates are different (worse) than what you might expect. At today's close of $59.90, the effective tax on employee RSUs (assuming 45% marginal rate) is 59%.

If it’s not obvious by now, all but a handful of VCs are going to get crushed by operators like Andreessen, Sacks and Rabois.

If you’re ready for a Series A, your seed investors will be begging to introduce you to VCs. That’s how’s they avoid getting boxed out of the round by the new investors. h/t Jake Zeller

New post: A little behind the scenes of the ‘How to Get Rich’ podcast. venturehacks.com/articles/get-r…

The goal of the ‘How to Get Rich’ podcast is to make timeless material, not to sell ads or keep you listening.

Product, traction, team, social proof. There's no better résumé for a startup. pic.x.com/rnD6cUrkL1

Formula for a successful entrepreneur. Can build or sell with the best. Doesn’t give up. Knows when to pivot. The end.

Just finished reading "Pitching Hacks" by Naval and Nivi venturehacks.com/sscx92823jsdxc… So many golden nuggets in here for founders looking for 💲.

“So all the agreements and such are only as solid as the performance of the business. They can all get torn up in a nanosecond if things don’t go well.” - Fred Wilson

There’s very little innovation in VC. I’m starting a new project to fix that and there’s room for one founding engineer. angel.co/l/2mjFZk