CAP TABLE
From Day Zero to the Exit Waterfall: A seasoned CFO walks you through authorized shares, dilution, anti-dilution, equity compensation, and liquidation mechanics β in plain English.
4
CAP TABLE
Foundation & Funding Rounds
What Exactly Is a Cap Table?
The scorecard of your company. From Day Zero to Series B, learn the math behind authorized shares, ESOP pools, and dilution.
7/10
COMPLEXITY
12
PAGES
When the Market Turns
Navigating Down Rounds
Understand broad-based weighted average vs. full ratchet anti-dilution, pay-to-play dynamics, and the mechanics of recapitalization.
9/10
COMPLEXITY
15
PAGES
Your Equity, Explained
Options, RSUs, and Taxes
A breakdown of equity types (ISO, NQSO, RSU), vesting schedules, and the critical importance of the 83(b) election.
8/10
COMPLEXITY
10
PAGES
The Exit Waterfall
The Moment of Truth
The liquidation waterfall determines who gets paid and in what order. Explore case studies of hero exits and near-misses.
9/10
COMPLEXITY
14
PAGES