7: According to the 424B4 filed by Spotify on April 3rd, 2018, Spotify had gross margins of less than 25%, for the year ended December 31st, 2017.
10: A founder should be able to explain to venture capitalists how her frim will earn and sustain high gross margins in a large market.
11:College endowments have long term liabilities so VC funds are a good investment class since investments in VC funds are generally locked up for ten years.
12:Ideal investors in VC funds are money market mutual funds because people use these funds for transactions and sources of liquidity.
13: Every limited partner in a VC fund has unlimited liability that arises from the funds investments.
14: Using the IPO value of a peer company is a good way to get a rough estimate of the potential value for a new venture that investors expect to be public within ten years. It is clearly a rough estimate the level of the stock market varies widely and the market for IPOs is also cyclical.