For detailed show notes and links go to MarkWKing.com/6
In this episode, I distill some positive and negative lessons about why a startup might need multiple attorneys. The short answer…lawyers are like doctors, they specialize. One size does not fit all situations. Equally important, entrepreneurs need to be careful about who an attorney has a duty of loyalty to. A lawyer that represents a company's best interest does not by default represent the founder.
Also in this episode, I reintroduce the Venture Capital Coroner's Report. Previously, I did an entire podcast focused on lessons from failed, VC backed companies. The show failed (I know, ironic, right?). I just couldn't get enough interviews. However, there's more than enough material for an occasional segment of this show. The autopsy of VATLER provides an important lesson about disrupting entrenched players (and a resurrection story in the founding of SpotAngels).
Lawyers or Insurance Salesmen?
Naval Ravikant - Angel List
In a very short post Naval lays out six important lessons he learned about hiring lawyers. He learned these the hard, expensive way.
A Startup Lawyer is Not a Founder's Lawyer
Jose Ancer - Miller, Egan, Molter & Nelson
Often lawyers are like that coach in the corner of a boxing ring. They're an experienced, voice of reason in a life or death struggle. Jose Ancer points out, however, that you need to be sure the lawyer in your corner owes his highest allegiance to you. It's not always obvious. Jose does a great job explaining how attorney loyalty works.
Inside Story of VATLER's Shut Down
Hamza Ouazzani Chahdi - Now at SpotAngels.com
Founders ran head first into a wall called entrenched city government. Follow @HamzaOuazzaniC to track the story of SpotAngels, Hamza's new attempt to disrupt urban parking by helping you avoid parking tickets.
Bonus Material – More About Naval Ravikant
Naval says this about himself: "I am the CEO and co-founder of AngelList. I previously co-founded Epinions (which went public as part of Shopping.com) and Vast.com. I'm an active Angel investor, and have invested in dozens of companies, including Twitter, Uber, Docverse and Jambool (both sold to Google), and Mixer Labs and Fluther (both sold to Twitter)."
Background article from PE Hub on why Naval feels so strongly about lawyers: His Brand Burnished, Naval Ravikant Plans New Fund with Babak Nivi
Blog StartUp Boy Web Site Angel.co Twitter @Naval LinkedIn Naval Ravikant (little dated) I'd love to connect at any of the following:
LinkedIn: Mark W King
Facebook: The Mark W King
Old School Email: MarkWKing.com/social