For those claiming that Marc is acting in his own self interest, well of course he is. You should also bear in mind that he's advising his own portfolio to be highly skeptical of such deals.
What he's getting at in (imho) a rather roundabout way is that deals with these other firms are likely to be 'non-standard' as compared to those with 'SV' firms. You don't have to go very far back to see that people can get caught by surprise in such arrangements. Just look at the Skype options scandal of a few years ago, which was a Private Equity deal (they just have a different view of 'normal' regarding options). I've no idea what hedge funds are doing by investing in companies but I'd be wary of the terms.
What he's getting at in (imho) a rather roundabout way is that deals with these other firms are likely to be 'non-standard' as compared to those with 'SV' firms. You don't have to go very far back to see that people can get caught by surprise in such arrangements. Just look at the Skype options scandal of a few years ago, which was a Private Equity deal (they just have a different view of 'normal' regarding options). I've no idea what hedge funds are doing by investing in companies but I'd be wary of the terms.
http://www.businessinsider.com/skype-scandal-silver-lake-201...