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The Great Myth of the Liquidation Preference: Yes, It Matters. But Not In Many Scenarios.
Mar 1, 2026
If you've raised venture capital—or even just read about it—you've heard the warnings about liquidation preferences. It's a common grouch on LinkedIn. "The VCs get paid first!" "You could build a $100m company and walk away with nothing!" "Preferences are how...
20VC x SaaStr This Week: Anthropic Wiped $20B Off Cybersecurity, 100K Deca-Millionaires Are Coming, and Why Every B2B Product Feels Dated Now
Feb 28, 2026
With Harry Stebbings, Jason Lemkin, and Rory O'Driscoll Anthropic wiped $20 billion off cybersecurity stocks with a single product release. The Citrini research piece predicting a "2028 Global Intelligence Crisis" sent shockwaves through the market. Figma posted an...
10 Months Ago, We Were Barely Using Salesforce. Now It’s Our AI Agent Hub.
Feb 28, 2026
Here's what no one tells you about deploying 20 AI agents across your business: they all need somewhere to live. Ten months ago—Salesforce had almost become shelfware for us. Even though I've been a customer for 20 (!) years. Why? Our sales team had dwindled to 3...
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Blog Posts, Exit Strategy
The Great Myth of the Liquidation Preference: Yes, It Matters. But Not In Many Scenarios.
By Jason Lemkin | March 1, 2026
If you’ve raised venture capital—or even just read about it—you’ve heard the warnings about liquidation preferences. It’s a common grouch on LinkedIn. “The VCs get paid first!” “You could build a $100m company and walk away with nothing!” “Preferences are how investors screw founders!” And look, I get it. Liquidation preferences are real. They’re in…
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Blog Posts
20VC x SaaStr This Week: Anthropic Wiped $20B Off Cybersecurity, 100K Deca-Millionaires Are Coming, and Why Every B2B Product Feels Dated Now
By Jason Lemkin | February 28, 2026
With Harry Stebbings, Jason Lemkin, and Rory O’Driscoll Anthropic wiped $20 billion off cybersecurity stocks with a single product release. The Citrini research piece predicting a “2028 Global Intelligence Crisis” sent shockwaves through the market. Figma posted an epic quarter at $1.2 billion ARR growing 40%—and nobody cared because we’ve all given up on the…
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Artificial Intelligence (AI), Blog Posts, SaaStr.Ai
10 Months Ago, We Were Barely Using Salesforce. Now It’s Our AI Agent Hub.
By Jason Lemkin | February 28, 2026
Here’s what no one tells you about deploying 20 AI agents across your business: they all need somewhere to live. Ten months ago—Salesforce had almost become shelfware for us. Even though I’ve been a customer for 20 (!) years. Why? Our sales team had dwindled to 3 people. Two of them wouldn’t even log into…
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