- Easy, Breezi by Lillie
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- My dream cap table, what I look for in investors and other names for Breezi
My dream cap table, what I look for in investors and other names for Breezi
And other lists I made this week
Welcome to Easy, Breezi.
Your friend who sends you a weekly update on what she's working on, reading through, and thinking about – in a list.
I have one rule to this newsletter, lists only. The only exception is this yellow box. I'll use this to say anything that needs to be said in a full paragraph. I’m officially all moved and settled into my apartment in East Village – New York Girl summer here I come.
Relatable or no?
My dream cap table for Breezi
Gary Vaynerchuk: a pioneer in the early days of content creation. The main reason I want Gary as an investor is because of this video – posted 6 years ago which predicted the future that we’re currently in with TikTok/ daily vlogs/ creators.
Ryan Hoover: a few years ago, I saw Ryan launch YourStack – it felt like “Breezi for products”. I think we have the same vision for what a list-based consumer product could be. YourStack never took off as a broader social network but Breezi could 👀
Julie Zhuo: Facebook’s first software engineer intern in 2006 and eventually becoming their VP of Product Design. Not only does Julie provide insights from a technical perspective, I would learn a lot on leadership and people management from her. Love her book also.
Clara Shih: a true technology leader, founder of Hearsay Systems, and currently the CEO of Salesforce AI. I heard of Clara when I was a barista in 2015. I was stalking the Starbucks Board of Directors (don’t ask why) and was excited to see a woman POC. She’s made a few early-stage investments in recent years – including Gusto and Octane AI.
Marc Randolph: cofounder and first CEO of Netflix. I feel weird being obsessed with him – I’ve read his book, saved hundreds of his tweets, and will watch anything that he’s featured in. I admire his investing philosophy and want him in my corner.
Other notable mentions include:
Scott Belsky: founder, Behance
Alex Cooper: podcaster, Call Her Daddy
Biz Stone: co-founder, Twitter and Medium
Elizabeth Khuri Chandler and Otis Chandler: founders of Goodreads
Mark Gainey and Micahel Horvath: founders of Strava
In case you’re new to raising capital and investing, here are some terms defined
Cap Table: a spreadsheet or document that breaks down exactly who owns how much of the business
Angel Investor vs. VC: both are equity investors but angels operate as individuals using their own money and VCs operate as a corporation using other people’s money (limited partners)
Pre-seed round: the earliest round of capital a company raises, can range from $250k-$2M and usually from friends, family and angels – typically on a SAFE and will give you 6-12 months of runway
SAFE: stands for “Simple Agreement for Future Equity”, the benefits to raising on a SAFE is its simplicity (no interest rates, minimal terms to negotiate) and flexibility (typically no shareholder voting rights so founders can focus on building)
Equity Dilution: to gauge your level of dilution, you can use the back-of-the-envelope formula of Equity Dilution = SAFE Amount / Valuation Cap so if you raise $500k from a SAFE with a $5M post-money valuation cap, you’re basically selling 10% of your company
Here are 3 unique things I look for in angel investors
Very active in building and maintaining their personal brand online
Backs new platform companies instead of new tool companies
Has an “against the grain” or untraditional path in their own journey
The 3 books that I’ve been reading lately
Onward by Howard Shultz: an inside look into Schultz's (Starbucks CEO) central leadership philosophy
Facebook, The Inside Story by Steven Levy: this book gives you a view on Zuckerberg’s journey with all the tea
100 Essays That Will Change The Way You Think by Brianna Weist: compilation of short pieces on pursuing your purpose and embracing new ways of thinking
5 signs the only problem with your life is that you THINK about it more than you LIVE it
This list is taken directly from Chapter 39 from 100 Essays to Change The Way You Think. I love starting my mornings by reading a chapter of this book – it takes less than two minutes and provides you with new perspectives to bring into the rest of your day
Your goals are perfect outcomes, not perfect actions
You’re a maladaptive daydreamer
Your purpose in life is abstract
You’re always busy, yet never productive enough
Most of your problems come back down to a fear of judgment
My goals for being in New York this summer
In no particular order…
Find users for Breezi
Find investors for Breezi
Find a boyfriend
The 3 things I did in New York this week
Liz and I finally meeting in person this week
Went to General Catalyst’s Founder Fridays and got to meet other founders and investors/ hear feedback and advice on Breezi
Got 30 new waitlist signups by going to events and talking about Breezi
Finally got to meet my internet bestie Liz from Landing IRL
Super random but here are other names I was considering before Breezi was Breezi
Casa; a home, your little space on the internet
Peek; inviting others to peek inside
Bullet; well …you get the point
If you found anything in this newsletter helpful, I'd love to connect on Twitter – tweet me a screenshot of your favorite part and let's chat 👋
In addition, it would really help me if you could forward and share this newsletter with a friend.
I'll be back next week with more lists!