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Valuation
Founder's Pocket Guide: Cap Tables
By
Stephen R. Poland
Cap tables look simple until new investors, employee grants, and promises begin piling up. This guide shows who owns what and how each new deal changes those shares. I like it because it turns dilution from a vague worry into math an owner can actually follow. That matters long before a sale, since confused ownership can frighten investors and buyers alike. The book is short enough to use without making cap tables your new hobby. Read it before signing a deal, not while everyone is waiting on the signature page.
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