Thank you, LTSE
Earlier today, I shared the following note with my LTSE team.
Every month, thousands of founders come to LTSE to operate their companies. They seed their growth from like-minded investors, invest in their employees, and participate in a public market where they are rewarded for doing good.
At LTSE, our vision is to be the capital market infrastructure for the next generation of iconic companies. Building companies is hard - I know, I labored at it for a third of my life. I always wished for smarter tools, more capital to innovate, less busywork, and a market built for founders like me. As Eric puts it, “There must be a better way!” So I joined you, a team of passionate and talented entrepreneurs, to build a better way.
I am so proud of what we shipped. LTSE Equity grew from a better-than-spreadsheet MVP to the largest cap table management platform in the world. 32,000 startups joined us, from two founders in a garage to Series D unicorns. We did crazy things, then made them normal. We drove pricing down by pioneering freemium cap table management - all companies can now have safe cap tables. We made equity data portable by forming the Open Cap Table Coalition - all companies will truly own their data. Because we add more value than we extract, LTSE Equity is now a household name, a preferred partner, and a leading voice in the startup ecosystem. Journalist Dan Primack at Axios called us “Silicon Valley’s most important startup for other startups.” Even though we’re only 6% to our vision, I think we will live up to this honor.
After four plus years at LTSE, I’ve decided to go on a new adventure. What excites me is helping builders to create the future. LTSE taught me how to solve big, hard problems with lean experiments. I loved building tools for developers who are solving new problems with the magic of code. I’m excited to apply what I learned at LTSE to build financial infrastructure and developer tools for an underserved continent. My last day at LTSE is January 7, 2022. After that, I will serve as an Advisor to LTSE.
My friends and family would tell you how I’m always so excited to say that LTSE is the best job I ever had. I find my work meaningful and fun. I get to work with smart and passionate teammates like you. When times have been good, you’ve been humble. When times have been tough, you’ve been strong and supportive. I’m grateful for all the hard work you put in, for all that you’ve taught me, and for believing that capitalism can do good through our work. I am grateful to Eric, Maliz and Tiho for believing in LTSE Equity, and for their mentorship. I am grateful for the company builders who have trusted us, shared feedback, and became our customers.
How companies are built is changing. Anyone in the world can solve any problem with software and remote work. Young companies think bigger with seemingly infinite capital. Yet companies still yield to short-term pressures, and equity is still not equitable. I am confident that LTSE will meet every challenge and opportunity ahead. We have things in the pipeline that will continue to delight. Keep pivoting, keep persevering.
Thanks to Ben Ehrlich for his feedback.