🔹 The VC Cycle: Understanding the full cycle of VC investment, from self-funding to angel investments, and how it culminates in IPOs or acquisitions, is crucial for any entrepreneur.

🔹 Contracting with VCs: They highlighted how venture capitalists prefer convertible preferred stocks for several reasons: seniority over common stocks, alignment of incentives, and downside protection.

🔹 Corporate Governance: The role of corporate governance in maintaining balance between founders and investors, with VCs often having significant say in board composition and major corporate decisions.

🔹 Convertible Notes and Caps: A key discussion point was how caps on convertible notes can protect angel investors from excessive dilution in successful funding rounds.