What a bad team can do to a Startup?

Flash/Flex developer, Orian Marx, started his Startup with much zeal and enthusiasm but had to give-in to failures because of none other but the team – the founders involved. His article outlined the story so well, it can well serve as a good lesson for everyone involved as co-founders of a startup. It is sad that his startup failed but I appreciate his courage to come out so open with what happened, what he learned and what we can take away from his failure story.

Read his story — Reflections of a Y Combinator Dropout — divided into three parts;

  1. What Went Wrong
  2. What Really Went Wrong
  3. Lessons Learned

Note: Read through the whole story; between the lines, you can learn a lot from it.

Download Series AA Equity Financing Documents from Y Combinator

Y Combinator and Wilson Sonsini Goodrich & Rosati announced the Series AA Equity Financing Documents. Their goal is to make angel funding rounds for startups easier for both sides.

While they may not be suitable for all situations, the goal is to make the terms fairly neutral. So while it is advisable both parties using these documents to have their lawyers look at them, they provide a starting point that can be used in many situations without too many modifications.

Download them from Y Combinator

And here is all of them zipped for you (un-modified and un-altered).

Six Apart got a $12 million funding!

Six Apart, the MovableType Company seem to have got their third round of VC funding, a sum of $12 million. It looks like the Internet Technology is going great guns and is on a much steady move this time. Every circle seem to have some sorta funding or the other, companies being bought, millions of dollars pumped in again.

I don’t really recollect where I heard/read that but somebody said something cool – Have you seen/heard about VC fundings and Angel Fundings in the other areas save the Bay area, the valley, that is where the moolah is. Maybe, he was right.