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OG Live is a Q&A forum where you can get real-time, on-demand answers and advice to questions or problems your peers have already solved.
Looking for a rec for an attorney to advise re: corporate entity restructuring. Basically we need to move a holding company we have and move the subsidiaries over to a new parent. Want to talk to someone who can confirm the best way to do this, and likely help prep and file the needed paperwork regarding the old & new entities.
Peter W. from Cooley was instrumental in helping us restructure. Highly recommend him and his team.
We used Sandberg Phoenix out of STL and they were highly effective and MUCH MUCH cheaper than the other big tech counsels. Happy to make an intro if interested.
Hi all. What is the current market pay for Series A, 10M ARR, Head of Finance (+HR/IT) in terms of cash comp and equity? Any tips on negotiating would really be appreciated! Thank you!
Take a look at VCECS and OpenComp and filter down to Bay Area, Series A. I'd look between VP Finance and CFO depending on your experience. Sounds like a role where VP Finance = CFO. There are of course many more VP Finance positions in Series A than CFO, but fundamentally they're the same thing for a highly experienced candidate. Look at comp ranges as appropriate to that. The range is wider based on experience, as is the equity range.
Other things to consider:
1) Extended option exercise window to the max 10 years
2) Double trigger acceleration: If a company is acquired and you're let go within x months of the acquisition, your options accelerate. You can also ask for the same if your role is significantly changed–if the acquirer essentially shoves you in the closet instead of letting you go. If you had acceleration only when fired, they could instead reduce your salary to minimum wage and ask you to wash dishes and not fire you. This is most common and for finance and legal who are more often on the chopping block in an acquisition, as the bigger acquirer may be able to absorb this work and cut costs.
3) If company lets you go in first year not for cause, have your first year's worth of options vest. Insurance policy for nuclear winter economic environment, crazy new covid wave, a founder who has never worked with a head of finance before and doesn’t know what they want, etc.
Curious if anyone wants to get together virtually or even in person to talk about how chatGPT will impact our line(s) of work. No idea about the best format–I will leave that to the OG g-ds to figure out–but I thought the analytical and creative power of the folks on this list is pretty special.
I’d love to join!
One thing I’ve been thinking about is: What does the new reality look like for startups? And for operators who seek impactful careers with these startups?
Factors include:
Potential recession (1-2 year impact)
Suppressed M&A and IPO environment(1-3 year impact)
No more insane fundraising multiples(up to 10 year impact)
AI (multi-decade impact)
All startups begin with a capital strategy and it does feel like that strategy is facing a reset for most companies. If you're in the tech space then your product strategy is potentially looking at a shift as well due to ChatGPT and similar. The movement in those two has major implications on both the opportunities for and demand on operational professionals. Haven’t gotten to any meaningful conclusions but welcome any thoughts.
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