Dilution
The drop in your ownership percentage each time the company issues new shares.
Not inherently bad — a smaller slice of a far bigger pie is the whole point — but worth modelling round by round.
Hear it from people who've done it
Get the real-world version of "Dilution" drawn from hundreds of conversations with founders and investors.
Ask the Network →Episodes on Fundraising
Perspective X with Pauline Fetaui · 19 June 2026
She Lost the Company She Built — Not Herself: Yas Grigaliunas (Part 2)
Investment Thesis with Kali Norman · 12 June 2026
Taryn Pieterse of Rampersand — How a VC backs early-stage founders
Investment Thesis with Kali Norman · 29 May 2026
Episode Five: Dan Coughlan's Investment Thesis
Pre-money / Post-money valuation
Pre-money is what the company is worth before the new money goes in; post-money is pre-money plus the raise.
Option pool / ESOP
Equity set aside to grant to employees as options, usually 10–15% of the company.
Anti-dilution
A clause that adjusts an investor's shares if you later raise at a lower price, protecting them in a down round.
← Back to the full glossary
Want a show like this for your fund or company?
We're W2D1 Media — the team behind the Day One Network and Blackbird's Wild Hearts. We turn podcasts into trust, authority and pipeline.