Hacker News Comments on
Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist
Hacker News Stories and CommentsAll the comments and stories posted to Hacker News that reference this book.
As a developer turned co-CEO, developing an understanding of the differences between cashflow, revenue, profit, and overhead was critical.
My recommendations are a little different from most other folks here, in that they relate to understanding the business as a whole and how finance figures into it:
Norm Brodsky's "The Knack" http://theknack.info/
Jack Stack's "A Stake in the Outcome" https://www.amazon.com/Stake-Outcome-Building-Ownership-Long...
If you're in a startup environment, Brad Feld's "Venture Deals" https://www.amazon.com/Venture-Deals-Smarter-Lawyer-Capitali...
Here's the 3rd edition of the Venture Deals book https://www.amazon.com/Venture-Deals-Smarter-Lawyer-Capitali...
The investors in VC funds are called Limited Partners (LPs), as opposed to General Partners (GPs). LPs raise money from high-net worth individuals (HNWIs), funds of funds, etc.
Maybe what you read had some qualifier attached to it like across all VC funds "on average". With funds, the outliers are everything like with successful startups. Deal flow varies greatly by VC. A similar comment, and one that holds up, is that most startup accelerators have 0 "successful" exits.
Brad Feld's book Venture Deals  is a great reference if you want to learn a bit more from multiple perspectives.
May I recommend anyone wishing to understand more about valuation read the book Venture Deals?
The subtitle is tongue in cheek but also gives you a sense of how much you can learn and how rare company you are in once you understand the details.
These books on the subject of term sheets are solid
⬐ huacMy VC class used this book https://www.amazon.com/Venture-Capital-Finance-Innovation-2n...⬐ toomuchtodoAlso: