Why does Liquidation Waterfall matter?

Headline valuation ≠ what common actually receives.

What is a common mistake with Liquidation Waterfall?

Throwing around “Liquidation Waterfall” without the simple meaning.

Lesson60 seconds

A liquidation waterfall is the ordered allocation of exit proceeds through preference stacks, participation, and finally common shareholders.

The order of who gets paid in an .

Hearing this as Like I'm 5™

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A liquidation waterfall is the ordered allocation of proceeds through preference stacks, participation, and finally common shareholders.

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Tap a persona to hear the same idea in a totally different voice.

Try “Like I'm 5™” for a picture-book version - not the grown-up wording above.

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