In case you hadn’t noticed, Jason is back from his vacation (a cruise no less – feel free to tease him about it) and blogging up a storm. On the other hand, I’ve had oatmeal and bananas in my hotel room for breakfast – again.
Fred Wilson from Union Square Ventures has the Great VC Post of the day up with Because It’s Standard. Fred tells of an early term sheet negotiation he had where he learned that the phrase “Because it’s standard. We always get this provision. Always have, and always will” is not a particularly compelling negotiating stance. In Fred’s words, “Nothing is standard. You either need it or you don’t. Explain why you need it and most of the time you’ll get it or something like it as long as both sides really want to make a deal.”
Exactly. Read the whole post – the story is classic. Since I’ve never known Fred to “do anything weakly”, Morty must have been really pissed.