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Fundraising & Valuation


How to Classify Your LLM Costs on the P&L

Jul 9, 2026

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4 min read

How to Classify Your LLM Costs on the P&L

Plus, reporting usage based ARR, and adjusting metrics post RIF, all in this week's CFO Mailbag!

CJ Gustafson
CJ Gustafson
How Much Did the Bankers Actually Make on the SpaceX IPO?

Jun 14, 2026

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7 min read

How Much Did the Bankers Actually Make on the SpaceX IPO?

Benchmarks for Operators 6/14/26

CJ Gustafson
CJ Gustafson
Where Were YOU When the Revenue Multiples Died?

Mar 22, 2026

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15 min read

Where Were YOU When the Revenue Multiples Died?

Benchmarks for Operators 3/22/26

CJ Gustafson
CJ Gustafson
Startups Investing in Startups: Peak Bubble Behavior?

Oct 19, 2025

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14 min read

Startups Investing in Startups: Peak Bubble Behavior?

Benchmarks for Operators (10/19/25)

CJ Gustafson
CJ Gustafson
Valuation is a Terrible Scorecard

May 25, 2025

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12 min read

Valuation is a Terrible Scorecard

5/24/25 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
State of the Private Markets

May 2, 2025

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19 min read

State of the Private Markets

April 2025

CJ Gustafson
CJ Gustafson
What Investing at 100x ARR Really Means

Apr 13, 2025

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9 min read

What Investing at 100x ARR Really Means

4/13/25 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
State of the Private Markets

Mar 28, 2025

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17 min read

State of the Private Markets

March 2025

CJ Gustafson
CJ Gustafson
State of the Private Markets

Feb 27, 2025

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13 min read

State of the Private Markets

February 2025

CJ Gustafson
CJ Gustafson
State of the Private Markets

Jan 30, 2025

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3 min read

State of the Private Markets

January 2025

CJ Gustafson
CJ Gustafson
“You Pick the Valuation, I Pick the Structure."

Nov 3, 2024

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10 min read

“You Pick the Valuation, I Pick the Structure."

11/3/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
A Crash Course in IPO Valuation

Sep 15, 2024

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9 min read

A Crash Course in IPO Valuation

9/15/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
Multiples of Conviction

Jun 23, 2024

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8 min read

Multiples of Conviction

6/23/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
Is your revenue "durable"?

May 28, 2024

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6 min read

Is your revenue "durable"?

Lies we tell ourselves about revenue durability

CJ Gustafson
CJ Gustafson
The Silent Valuation Killer - Stock Based Comp

May 26, 2024

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10 min read

The Silent Valuation Killer - Stock Based Comp

5/26/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
What's a 409A Valuation?

May 2, 2024

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6 min read

What's a 409A Valuation?

Part 1 of 3 in our month long series on Employee Equity

CJ Gustafson
CJ Gustafson
It’s DCFs All the Way Down

Apr 14, 2024

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9 min read

It’s DCFs All the Way Down

4/14/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
The “Next Buyer” Angle to Valuation

Apr 7, 2024

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8 min read

The “Next Buyer” Angle to Valuation

4/7/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
When a Billion Dollar Outcome Isn’t Enough

Mar 31, 2024

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8 min read

When a Billion Dollar Outcome Isn’t Enough

3/31/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
The “Execution Risk” Angle to Valuation

Mar 24, 2024

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8 min read

The “Execution Risk” Angle to Valuation

3/24/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
How to Structure Your Pitch Deck

Mar 21, 2024

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8 min read

How to Structure Your Pitch Deck

The art of company story telling

CJ Gustafson
CJ Gustafson
The 2023 SaaS Fundraising Napkin

Dec 5, 2023

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9 min read

The 2023 SaaS Fundraising Napkin

What did it take to raise a round in 2023?

CJ Gustafson
CJ Gustafson
What does a Term Sheet look like?

Jun 22, 2023

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6 min read

What does a Term Sheet look like?

And spotting “dirty” terms that could hurt your company

CJ Gustafson
CJ Gustafson
When will we go back to normal?

Jun 13, 2023

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6 min read

When will we go back to normal?

Depends on your definition of normal

CJ Gustafson
CJ Gustafson
Cracking the Code

Jun 1, 2023

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5 min read

Cracking the Code

Decoding the Real Questions VCs Ask During Fundraising

CJ Gustafson
CJ Gustafson
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yo, btw…

none of this is intended to be financial or legal advice. do your own homework. call your mom once a week. and make sure to hydrate.