Great post.. must read!
give some flavour of the 'bare all' nature of the post.. (click through above now), just see snippet below:
"I turned them down. They were nonplussed. They couldn’t understand how I could turn them down when they considered themselves the leader in my field and they had worked so hard to get the deal. I told them that True Ventures had stuck to their brand name and submitted a totally clean term sheet. No gotchas. No option pool shuffle. No hidden terms. So they agreed to match True’s term sheet. I thought to myself, “OK, they were willing to F me when they thought I had no idea what I was talking about . Now that I do they’re willing to accommodate? Gee, if they treat me like this in good times I wonder how they’d treat me in bad times!”