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Maine is Latest State to Legalize Daily Fantasy Sports
August 16, 2017  |  By Kevin Vela

Maine On August 2nd, Maine joined four other states to become the fifth this year to legalize daily fantasy sports. Fifteen states currently have DFS laws on the books that allow for legal play. Maine’s victory was narrowly won—Governor Paul … Read More

Venture Deals Review Ch. 5: Protective Provisions
August 7, 2017  |  By Vela Wood

In this episode, Kevin and Aaron review Chapter 5: Control Terms of the Term Sheet and discuss which activities a company’s board of directors must approve, how long a company should keep control of its board, the difference between a board member and board observer, and negotiating a threshold for protective provisions.  Read More

Does your company’s ICO need to be registered with the SEC as a securities offering?
August 3, 2017  |  By Nic O'Brien

If a blockchain technology company is considering conducting an initial coin offering (“ICO”) or token sale, the question the company needs to answer is whether it needs to register the token sale with the SEC? The answer depends on whether … Read More

Venture Deals Review Ch. 4, Part 2: Vesting & Option Pools
August 1, 2017  |  By Vela Wood

In this episode, Kevin and Aaron review Chapter 4: Economic Terms of the Term Sheet and discuss why venture-backed startups must vest their equity, why you shouldn’t give employees Restricted Stock Purchase Agreements, how to get VCs to agree to a smaller option pool, and the difference between full ratchet anti-dilution and weighted-average anti-dilution. Read More

Venture Deals Review Ch. 4, Part 1: Liquidation Preference
August 1, 2017  |  By Vela Wood

In this episode, Kevin and Aaron review Chapter 4: Economic Terms of the Term Sheet and discuss why the difference between pre-money valuation and post-money valuation matters when negotiation with a VC, why price per share is critical in later financing docs, what is included in a fully-diluted basis, why accepting a lower valuation can be the best option, the difference between participating preferred stock and non-participating preferred stock, and why play-to-pay scenarios are no longer common. Read More

DFS Updates: New Hampshire and Delaware
July 28, 2017  |  By Kevin Vela

New Hampshire With Governor Sununu’s approval of H580 on July 18th, New Hampshire became the 13th state to legalize paid fantasy sports. Lawmakers achieved this victory with little pushback, as New Hampshire officials have never issued a negative opinion about … Read More

Venture Deals Review Ch. 3: Term Sheets
July 24, 2017  |  By Vela Wood

In this episode, Kevin and Aaron review Chapter 3: Overview of the Term Sheet and discuss who is responsible for providing the term sheet, which parts of a term sheet are binding, the different types of term sheets, and what should be included in a term sheet.  Read More

DFS Summer Legislative Updates
July 21, 2017  |  By Kevin Vela

It’s been a busy summer for state legislatures and a hopeful summer for DFS players. So far, 28 states have considered fantasy sports as part of their 2017 legislative agenda. At Vela Wood, we keep track of these developments and … Read More

Venture Deals Review Ch. 2: Raising Money & Pitch Decks
July 18, 2017  |  By Vela Wood

In this episode, Kevin and Aaron review Chapter 2: How to Raise Money and discuss how to determine how much money to raise, how to prepare a pitch deck, whether or not you need a PPM, four key roles of a lead investor, and first practical steps after deciding to raise money.  Read More

Startup Starter Pack
July 17, 2017  |  By Vela Wood

Whether you’re an aspiring entrepreneur with a game-changing idea or just a dedicated Silicon Valley viewer who just wants to understand the ups and downs of Pied Piper, we’ve got resources to help you get there. Read More

Venture Deals Review Ch. 1: VC’s Non-Monetary Value, Friends/Family Financing Issues & SEC Advisor Success Fees Rules
July 11, 2017  |  By Vela Wood

In this episode, Kevin and Aaron review Chapter 1: The Players and discuss the non-monetary value your VC should provide, issues with Friends and Family financing, how the angel investor ecosystem has evolved, and how paying advisors success fees can violate SEC laws. Read More

Three Things with Mark Clayton & Jason Fox
June 30, 2017  |  By Vela Wood

In this episode, Kevin and Aaron interview two clients who are former NFL players turned entrepreneurs – Mark Clayton, founder of LIVV Headphones, and Jason Fox, founder of EarBuds Music. They discuss life as an athlete v. life as an entrepreneur, unexpected setbacks, the key factor that leads to success, and how much you should spend on hiring web developers. Read More

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