Episode 8: Talking AI: From Launch to Exit with Serial Founder Naveen Rao
 30 min listen

Interest and investment in AI is soaring. What should founders know? What does the future hold?

Listen to serial AI entrepreneur Naveen Rao talk with Orrick’s Mark Seneca about:

• The vision behind Naveen's first deep learning startup, Nervana Systems, which was sold to Intel in 2016 (4:21)
• The story behind the $1.3B sale of MosaicML, the leading generative AI company Naveen founded, to Databricks (7:50)
• A framework Naveen uses to determine whether a potential acquisition makes sense (11:30)
• Why mentors matter (19:36)
• The “singular pattern” he sees defining AI for the next 3 to 5 years – and how it may play out in fields from law and finance to medicine (21:50)

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Episode 7: Raising Money as an Impact-Oriented Company
 22 min watch

You've founded (or are thinking about founding) an impact-oriented company – and are exploring ways to raise capital. What are some key considerations you should keep in mind?

Watch this episode as Orrick's Aria Kashefi and Perry Teicher discuss:

• The fundamentals: defining impact-oriented companies, impact investments, and public benefit corporations vs. B corps (0:39)
• Practical considerations for seeking impact investments (5:09)
• Using a blended finance approach, i.e., raising capital from impact investors and “traditional” VC investors (7:17)
• Program-Related Investments or PRIs (12:46)
• How companies should handle ESG-related reporting requests (15:00)
• Pros and cons of raising impact investments at an early stage (19:11)

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Episode 6: The Sell-side M&A Process
 34 min watch

You're exploring exit options for your company and are interested in selling to an acquirer. How does the process work? What are the most critical things you should focus on?

Join Orrick's Aria Kashefi, Mark Seneca and John Bautista as they discuss the intriguing world of tech mergers & acquisitions, covering:

• Orrick's sell-side experience (1:44)
• When to start preparing for an exit (4:55)
• How the sell-side M&A process usually works (8:40)
• What goes into a letter of intent – and implications for sellers (15:02)
• Tips for maximizing value in a sale transaction (18:48)
• The most important areas of focus for founders and executives (23:56)
• Biggest surprises for first-time sellers (29:09)

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Episode 5: Hiring, Termination & Other Employment/Consulting Questions
 25 min watch

You are looking to bring employees, consultants, and/or advisors into your startup. What are some key hiring considerations you should keep in mind?

Watch this episode to hear Orrick's Aria Kashefi and Anna Suh dig deeper into:

• Hiring basics regarding new employees and when to use offer letters
• Contractors v. employees and considerations for each
• Exempt v. non-exempt and what each means
• The pros & cons of remote work
• Why and when to use a co-employer

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Episode 4: Preferred Stock Financing (Part 3 - After the Term Sheet)
 32 min watch

You’ve received capital from an investor to fuel your company’s growth. What kind of rights can your investor receive in exchange?

Join Orrick's Aria Kashefi, John Bautista and Laura Bloxham for the final segment in this three-part episode as they explore:

• Pro rata rights that let key investors participate in future financing
• Information rights that allow investors to monitor their investment in the company and the company’s performance
• Registration rights that investors can use to force a company to go public or, if a company has already gone public, to register the sale of investors’ shares

The hosts also discuss common mistakes they’ve seen companies make during financings.

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Episode 4: Preferred Stock Financing (Part 2 - The Term Sheet)
 41 min watch

You've received a term sheet. Venture financing beckons. What practical implications do typical deal terms have? What do you need to know to protect and grow your company?

In the second of this three-part episode, Orrick's Aria Kashefi, John Bautista and Laura Bloxham demystify deal terms in the VC funding process, answering questions such as:

• What is preferred stock? How does it differ from common stock?
• What are liquidation and dividend preferences? How do protection provisions work?
• Do investors get a seat on the board?
• What key points distinguish conversion and pro rata rights from information and registration rights?
• What mistakes have companies made while going through a financing?

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Episode 4: Preferred Stock Financing (Part 1 - Before the Term Sheet)
 45 min watch

You're thinking about raising venture capital. When should you start the process? How do you identify potential investors? Prepare for a pitch?

In the first of this three-part episode, Orrick's Aria Kashefi, John Bautista and Neel Lilani discuss what founders need to know about the VC funding process, including:

• Finding and connecting with VC investors
• Creating an effective pitch deck and preparing for a pitch
• Choosing an investor
• Negotiating term sheets
• When to involve outside counsel

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Episode 3: Friends & Family/Angel Financing
 25 min watch

You’re raising money for a startup. Should you ask friends and family? Consider convertible-note financing? What other options do you have?

Tune in to hear Orrick’s Aria Kashefi and John Bautista cover these aspects of early-stage funding:

• The difference between friends & family and angel financing
• Benefits of using a Simple Agreement for Future Equity (SAFE)
• Why founders might want to consider convertible notes
• Corporate formalities that accompany SAFE or convertible-note financing
• Pro rata rights, a.k.a. preemptive rights, participation rights or ROFOs (Rights of First Offer)

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Episode 2: Coming to the U.S.A. – Flip Transactions
 27 min watch

Are you an international founder? Want to move to the U.S. or find investors, employees or advisors there?

Watch this episode to hear Orrick’s Aria Kashefi, John Bautista and Kaitlin Bagby discuss flip transactions, which move a company to the U.S. They cover:

• Determining why and when to flip
• Shaping the equity ownership and structure of the non-U.S. entity
• Assessing tax risks
• Investigating alternatives, such as setting up a U.S. subsidiary
• Working with investors, board members and other interest holders

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Episode 1: Incorporation/Organization
 30 min watch

You’re early in the startup journey – and face some questions with long-term implications. How should you structure the company? Allocate equity? Do you need to protect IP?

In this episode, Orrick's Aria Kashefi and John Bautista discuss:

• Choosing a C Corp or LLC – and why in Delaware?
• Structuring stock and equity ownership
• Setting up a board of directors and adopting bylaws
• Protecting IP
• Accessing common forms and documents

Watch now