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The Great Myth of the Liquidation Preference: Yes, It Matters. But Not In Many Scenarios.

If you’ve raised venture capital—or even just read about it—you’ve heard the warnings about liquidation preferences.  It’s a common grouch on LinkedIn. “The VCs get paid first!” “You could build a $100m company and walk away with nothing!” “Preferences are how investors screw founders!” And look, I get it. Liquidation preferences are real. They’re in…