David He), Partner at Gunderson Dettmer), and Jeremy Au) talked about three main themes:
Banker to Startup Lawyer Partner: David shared his journey from aspiring to be a banker to transitioning into law with the backdrop of the 2008 Great Recession. He worked with a Wall Street firm, moved to Silicon Valley, where he engaged with VCs, startups, and founders, and eventually relocated to Singapore, where he continues to support dozens of founders in their startup negotiations with VCs.
Choosing the Right Startup Lawyer: David stressed that in selecting a good startup lawyer, cost shouldn't be the sole criterion. He emphasized the importance of researching and asking for references to ensure the lawyer’s experience in working with startups. He also underscored the value of flexibility, experience, and deal repetition and stressed that the initial months of the lawyer-founder relationship are crucial for establishing trust and responsiveness.
Startup Strong Legal Foundations: David talked about the significance of establishing strong legal foundations for startups. He shared examples of how some founders might prioritize short-term gains, overlooking long-term implications, which can lead to significant future costs. He also discussed the concept of control rights and explained that founders initially have full control but gradually lose it as they raise funds and bring in investors.
They also talked about the survivorship bias in startups, the importance of openness to learning, the challenges of building a professional network in a new country and the fast-paced environment of venture law.
Watch, listen or read the full insight at https://www.bravesea.com/blog/david-he)
Get transcripts, startup resources & community discussions at www.bravesea.com)
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