How VCs invest in software companies vs biotech companies

In an early-stage round of financing for a software company, all the investors may dilute the founders by around 15 to 30 percent of the company’s stock. For a typical early-stage pharma or biotech company, investors may dilute the founders at a higher rate—sometimes up to 70 percent—to reflect this risk.


This is one of the many passages I read in books and articles on a daily basis. They span many disciplines, including art, artificial intelligence, automation, behavioral economics, cloud computing, cognitive psychology, enterprise management, finance, leadership, marketing, neuroscience, startups, and venture capital.

I occasionally add a personal note to them.

The whole collection is available here.