Small point: the wording of “way underestimate the odds that less initial vesting will protect them from their co-founders” seems to conflict with your point. Did you mean “greater initial vesting” or am I tangled up in a double negative?

Initial founder vesting – makes sense. Best settled between founders. My main points is just to try to raise awareness that founder vesting can be fairer for everyone involved if a founder leaves – it’s not just founders vs VCs.

Thank for the inspiration to make a better “Plain Preferred” term sheet.

I agree with your concept of a partial acceleration on change in control, which we can amend the documents to reflect.

In terms of Founder Vesting, my preferred method is to have the Founders agree on a vesting schedule that precedes any professional investment. This way, vesting is started before a deal is done and Founders automatically get “time served” on terms that they all feel are fair, rather than trying to negotiate this sensitive subject while negotiating with a professional investor.

My $0.02.