Venture Hacks

How Naval turned getting screwed by VCs into AngelList

Shaan tells Naval Ravikant's arc: after Epinions, he felt screwed out of what he was owed by his VCs, took accountability for signing terms he didn't understand, and channeled it into Venture Hacks (demystifying term sheets) and then AngelList, now a multi-billion-dollar startup platform.

“And so he creates Venture Hacks. Venture Hacks is basically a, you know, sort of like demystified version of term sheets. So he basically starts writing down, hey, founders, here's what you need to know about raising money.”