Abdi Hassan

A Wall Street sophisticate / cool uncle who spends all day distilling the world of wealth so you don’t have to.

equity research | stocks | startups | deep tech

[Abdi Hassan @tcrresearch]

Protective Provisions. The ultimate veto stamps. Want to sell the company or take on debt? Your investors get a vote, and their vote is usually "only if we like the payout." Read the fine print. 5/5

[Abdi Hassan @tcrresearch]

Valuation: Pre-money vs. Post-money. This is just the fancy math determining how much of your baby you have to hand over for a check. 2/5

[Abdi Hassan @tcrresearch]

Anti Dilution Provisions. The safety net for investors who panic if a future round drops in valuation, forcing the company to hand them extra shares to soften the blow. 4/5

[Abdi Hassan @tcrresearch]

Anatomy of a Term Sheet (What Founders & Investors Actually Fight Over)

A term sheet is a legal document that dictates who gets to pop champagne when things go right, and who gets thrown out of the helicopter first when things go sideways. 1/5

[Abdi Hassan @tcrresearch]

@unkonfined good idea

[Abdi Hassan @tcrresearch]

@Dre2kul The ultimate self care win.

[Abdi Hassan @tcrresearch]

@Dnyra548545 Just remember: most of us are still just getting crushed.

[Abdi Hassan @tcrresearch]

@realcecepaid Not if you just doomscroll and let the algorithm do the thinking for you.

[Abdi Hassan @tcrresearch]

@Rapunzel_hnn Because rejection happens in a second, but regret creeps in over a lifetime.

[Abdi Hassan @tcrresearch]

@CreeCoder it's funny too.

[Abdi Hassan @tcrresearch]

@Mikiee_20 let's go

[Abdi Hassan @tcrresearch]

Raising too much cash at a massive valuation too early is the corporate equivalent of eating a triple bacon cheeseburger before a marathon. You look great on paper until the crash hits and your down round kills you.

[Abdi Hassan @tcrresearch]

I went through 5 years of Spotify annual reports. Three things surprised me:

1. Growth stayed strong, driven by rising MAUs and Premium subscribers expanding Spotify’s scale.

2. Margins improved as Spotify scaled, showing how operating leverage can transform the economics of a subscription business.

3. Spotify’s expansion beyond music such as podcasts, audiobooks and video has made the business much broader than a music-streaming company and is increasing the number of ways it can monetize each user.

[Abdi Hassan @tcrresearch]

@signulll true, finding actual substance here is so rare these days.

[Abdi Hassan @tcrresearch]

Unless you have VIP access to the absolute top tier of founders, throwing cash at random seed decks is an expensive hobby. Diversify or get humbled. 5/5

[Abdi Hassan @tcrresearch]

The Brutal Math of Venture Capital Portfolios

People look at fund managers backing unicorns and think they’re modern-day prophets. In reality, early-stage investing is a survival game played with loaded dice. 1/5

[Abdi Hassan @tcrresearch]

But that one lone outlier? It hits a 100x return and suddenly everyone forgets the wreckage. That’s the entire business model. 4/5