Hacking in Energy, Made Easy?

We talk about the energy problem being very complex. Just the other day, a clean web hacker was telling me why many coders miss the mark in disrupting energy: they do NOT understand the complexities of the industry. 

JD Hammerly’s note on Why you should fire your coders (and hire solvers instead) seems to be the vision of SURGE, it takes something complex and simplifies it down into individual parts that can be digested and nailed. But is “it” that simple? Can the BIG CODERS from energy who boast about how many lines they have written be able to pivot their mindset?

A group of incredibly smart entrepreneurs with backgrounds in part of the energy equation are working on bringing the CleanWeb Hackathon TEXAS style down to Houston. If JD is correct, the CleanWeb Hackathon, this time in Boston, is a great entrepreneurial way to disrupt organizations that cannot easily fire their coders and pivot into a new way of thinking about these problems.

Hackers Unite…If interested in Texas, keep posted.

Do you agree with JD?

Valuation Caps on Convertible Notes

Our SURGE companies are spending a lot of time thinking about raising money before our demo day, SURGE Day, to drive momentum, hire more people, write more code and anything else that will help them solve the world’s energy problems…

How? The current trend is to use a convertible note. In a nutshell, the convertible note allows the founder to raise money without spending a lot of time stuck in due diligence in order to come up with a valuation. The convertible note seems easy to understand but no one wants to read the legalese. Well, I sure do not.

 

I found the best explanation (for an entrepreneur) on how convertible notes work especially when a valuation cap in added. The post also includes an excel template that models different scenarios and shows easy to use graphs.

Founders…worth the read

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