Henry Ward

It’s in the previous post: https://henrysward.medium.com/how-we-handle-captable-information-c98d8… > On Friday we had an internal policy violation that affected three companies. I’ve been in touch with the founders and I’m appalled we made that mistake and it should never have happened. It is unacceptable and we’ve dealt with the violation on Saturday morning and are continuing the investigation to make sure it never happens again.

Possibly relevant; a blog by the CEO here on what he tells employees about negative press: https://henrysward.medium.com/what-i-tell-employees-about-negative-pre…

This Medium post by the same CEO a few months ago (https://henrysward.medium.com/what-i-tell-employees-about-negative-pre… presumably written in response to a few ongoing scandals, isn't much better.

Carta is building a private exchange, and their CEO alluded to the possibility of using it to raise money in his blog post announcing the trial run. https://henrysward.medium.com/finally-a-private-stock-exchange-cartax-… Once we have a liquid and active market for our shares, (in our case we have enough liquidity to support ~ $100M of volume per quarter), when we want to raise primary capital we simply sell common shares out of treasury. This is powerful for a couple of reasons. First, we get better price discovery on CartaX than going door-to-door on Sand Hill Road. Second, all shares bought on CartaX are common stock. There is no preferred stock, board seat, or covenants to deal with in a primary. But perhaps most importantly, CEOs and CFOs don’t have to spend months raising money, doing roadshows, meeting with investors, and negotiating termsheets.