
Twice in the last week I found myself coaching founders on how to build a financing plan around value creation milestones so I thought I would share what I said here.
The idea of thinking about value creation milestones comes from the observation that the value that investors put on a startup is generally moves in a step function, even when the company itself is making steady progress. There are certain types of events that investors look to as evidence that a company has overcome certain challenges and has therefore reduced risk in the business and become deserving of a higher valuation.






The AlwaysOn X Fund portfolio finished the week down 3.4%, the NASDAQ was down 0.8%, and the S&P 500 declined 1.1%. Year to date, the AO X Fund is up 13.6%, the NASDAQ is up 12.6%, and the S&P 500 is up 7.6%.








The AlwaysOn X Fund portfolio finished the week down 3.1%, the NASDAQ was down 3.7%, and the S&P 500 declined 2.4%. Year to date, the AO X Fund is up 17.6%, the NASDAQ is up 13.5%, and the S&P 500 is up 8.9%.



































































































































































































































































