2009 Angel Predictions
Frank recently spoke to angels Bill Payne, Dave Berkus, and John Filla about their predictions for 2009:
What to listen for: Since it's a new year it's time to brush up on terms. For example, pay-to-play rounds, never popular, some say angels will see lots of these terms brought to the table by VCs. What are pay-to-play terms and why do they become popular when times get tight, like now? What's worse than P2P? We cheerily describe the dreaded down-round and onerous liquidation preferences. And are we doing ourselves a disservice when we do flat rounds? Oh, what a year this could be!