Hard Lessons Learned (for the entrepreneurs out there)

From: Jeff Bone (jbone@jump.net)
Date: Mon Apr 02 2001 - 18:15:14 PDT

Okay, so here's what I know. This advice and $4 will get you a grande mocha
frappacino at Starbucks.

* structure your option plans so they can be early-exercised
* file your 83(b) elections ASAP
* make sure you're okay to net exercise
* deal -w- the qual / non-qual issue early
* make sure you're okay to pool in acquisition
* insist on shelf registration rights in acquisition
* insist on hedge-ability in acquisition
* don't borrow money to exercise options (so I hear...)
* don't margin to pay taxes (if you can avoid it!)
* if you self-hedge, BUY PUT LEAPS!
* listen to those smart IB private client guys
* diversify early and broadly

Disclaimer: I know nothing at all, nothing, really. But this guy did:

   "The market can remain irrational longer than you can remain solvent."
      -- John Maynard Keynes


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