The mechanics
How deals actually get done
Term sheets, negotiations, valuations and the awkward conversations — the shows that discuss the transaction rather than the company.
Very little podcast content covers the deal itself. There is a great deal about companies and a great deal about markets, and comparatively little about the negotiation in between — which is the part an angel actually participates in.
These are the shows that get closest to it. None is exclusively about deal mechanics, and between them they cover the negotiation from both sides of the table, which is more than you will find anywhere else in audio.
- 01The Pitch
Negotiations recorded as they happen, including valuation conversations and the moments where a founder loses the room.
- 0220VC
The institutional side, in institutional language. What a lead is optimising for, and why it is not what you are optimising for.
- 03This Week in Startups
A working angel thinking out loud about specific deals — what he would pay, what he would ask, why he would pass.
- 04Y Combinator's channel & Startup School
The founder-side fundraising material, so you know exactly what advice the person across the table has been given.
- 05BG2
For the cycle. Deal terms are a function of how much capital is available, and this is where that gets discussed properly.