More precisely, nearly all cap tables are wrong. Most cap tables are manually tracked in Excel. The “truth” of the cap table is held in the signed and dispersed paper documents (i.e. option grants) and the “model” is in excel. Frequently transactions (option grants, notes, exercises, etc..) are issued (the truth) but not recorded (the model). And the further away from a financing (when the cap table is normally cleaned up) the worse the entropy.
Archives for January 2015
A Timeline of Ramen Development
Broken cap tables
How to write a good bio
by @berkun