Using Veri to Understand Term Sheets

For some time Jason and I have felt that VC’s have had an unfair advantage when it comes to understanding term sheets. So a few years back we wrote a whole series of blog posts (the Term Sheet series) which became the basis for the book Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist. Our goal with all of this was to help put entrepreneurs on a more even footing in negotiating a deal with a VC.

In some ways, I’ve always seen writing (both books and this blog) as a form of personalized teaching. It let’s me efficiently share whatever knowledge I have. But a few months back while I was visiting TechStars NYC, I had the chance to meet the guys over at Veri and pretty quickly realized they have a really interesting format for teaching things like how a term sheet works in an even more personalized way.

The result is Veri’s Understanding Term Sheets. The experience works like it would if we were learning it together one on one, namely that I ask you a series of question to figure out what you do and don’t know. When you know the material you get to quickly prove you’re a champ. When you don’t know something, I help bring you to the exact snippet of information you need to know. In other words, we figure out what you know, and help you learn only what you don’t. And hopefully have some fun in the process.

Let me know you think about Understanding Term Sheets, especially if there are ways to improve it.

  • http://twitter.com/freds4hb freds4hb

    Great! Loving Veri! Great job guys! (off to learn the Feldian flavored term sheets on Veri!)

    • http://twitter.com/leemhoffman Lee Hoffman

      Thanks freds!

  • Irving Fain

    I thought this was great Brad! I like that you get the snippets of text related to the question if you get one wrong as well so it’s able to blend some fun & useful information with a bit of context.

  • http://www.eliainsider.com Elia Freedman

    I like it. Great presentation and even like the attitude. (Plus, I went 5 for 5 on the Pricing section.)

    • http://www.feld.com bfeld

      Well done!

  • http://mikelewis.me pescatello

    Just did 5 levels of this and it is awesome.  Such a good way to see if you really understand the terms and issues. I also like how it’s focus is on learning the material, not just scoring better than your friends.   I love it.  Also, thanks to you and Jason for building some questions – pretty cool. 

    • http://www.feld.com bfeld

      Thanks!

  • http://jeanbahnik.com Jean Bahnik

    It’s great, I really liked it. It also confirmed that I need to read Venture Deals asap… Thanks for taking the time to put together questions and answers. (I sent bugs using the snapengage form, let me know if there’s a better method to submit them)

    • http://www.feld.com bfeld

      Perfect on bugs, or just email me (brad@feld.com)

    • http://twitter.com/leemhoffman Lee Hoffman

      Jean, likewise you can also email me directly at lee AT veri with any bugs. 

  • http://www.alearningaday.com Rohan

    Not good, Brad.

    Forgetting you are a VC too often, you are. 

    ;)

  • http://twitter.com/web_promo вебпромо

    This is my first time comment at your blog.Good recommended website.

  • Daniel Horowitz

    Hey Brad – Awesome platform. When I’m finished with a course, it doesn’t appear as though there is any way to go back? Perhaps I want to retake the course? or just look at the Conversion section again, I don’t have access anymore? If I didn’t learn it the first time I’m screwed? 

    • http://twitter.com/leemhoffman Lee Hoffman

      Hey Daniel, we’re working on a “review mode” that should be out in a little while. In the mean time you have two options: 1) logout and do them again anonymously (i know crappy) 2) tomorrow we’re rolling out the ability to click back in to lessons from the topic page (click on the boxes for each lesson on the bottom) and navigate to all the questions again that way. 

  • Brian Taylor

    This site is great! Especially when you find the content interesting. I wonder how this would fare for a high school science class or a required corporate certification program. Thanks for the link!

    • http://twitter.com/leemhoffman Lee Hoffman

      Hey Brian, there are a bunch of different use cases we’re exploring (we’re doing some experiments with Khan Academy content for example). If you have specific ideas, definitely feel free to ping me off line lee AT veri.com 

      • http://twitter.com/_briantaylor Brian Taylor

        I actually have an exam on exactly this content next week and have enjoyed using Veri to review. I also forwarded Brad’s post to the professor and he is forwarding to the class as a non-required option for review. I’ll update after the exam on if the other students used Veri and how they liked it. 

  • Dina Mn

    Exactly what I’d been dreaming of! :’) I was wondering if there are one-on-one classes out there that can help teach me specific VC-related topics and answer my specific questions then tell me exactly the topics I need to brush up on. And with practical real-life examples. There probably are such classes but not without a hefty cost i presume. this is just perfect! I’m so grateful to stumble upon this. I don’t even have to leave my desk to find out what I don’t yet know. Thanks a bunch!!

  • Dina Mn

    Only after completing the Understanding Term Sheets course, do I realize there is only the Lean Startup course left, that’s VC related. Please create more VC courses on Veri! :D

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