Weird feeling. After 10.5 years and roughly £21,000 of debt- I finally paid off the last instalment of my student loan today.
Next month, for the first time- I’ll receive my full post tax salary, for the first time since I graduated.
Indeed IFS forecasts that 83% of students from PST 2012 reforms won’t fully pay back their loan.
Of course, HE has to be paid for and graduates pay according to their ability to do so (as their salary goes up). But as I say, important to see the system for what it is and how it works in practice.
The rest will likely have it hovering over them, in one form or another, until their 50s.
...from family to reduce (or eliminate) their loans. With George Osborne\u2019s abolition of the maintenance grant (and replacement with another loan) that inequity has become greater. Poorer students start working life as poorer graduates...
— Lewis Goodall (@lewis_goodall) February 15, 2021
So let’s take a graduate on Plan 2 with a debt of £50k and a v respectable starting salary of £28,500.
Despite a good, rising salary their debt *never goes down*. Rises to £113k.
For Plan 2 (since 2012) those things are no longer the case.
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As the DeFi bull market continues, some brutally honest tips for new founders fundraising in crypto.
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1/ The discount you offer to strategic investors is both to account for the risk of an unlaunched product, but also as compensation for continued value add and support.
So make sure you know the investor will support you and not leave you on read once the docs are signed!
2/ Having someone on your cap table/ token allocation is as important as hiring.
You wouldn't hire someone just because they are influencers on Twitter- you do your reference checks and find evidence of value add from other companies the investor has invested in.
3/ Don't trust, verify.
Many investors will promise you the world when they're trying to get on your cap table.
Talk to founders they backed to see how much of it is bullshit. Ask them about how the investor was there for them during hard times.
4/ Don't just go for "name brand" funds because you want the brand.
Sure, it's great validation, but optimize for fit, not vanity.
However, I do think many well-known VCs are good actors, especially those with roots in successful trad VCs. They have a rep for a reason!
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Equity/ownership is a force. Getting it in the hands of the right people generously will drive alignment and execution.
— Joey Santoro (@Joey__Santoro) January 21, 2021
It is a joyful and serious responsibility \U0001f332
1/ The discount you offer to strategic investors is both to account for the risk of an unlaunched product, but also as compensation for continued value add and support.
So make sure you know the investor will support you and not leave you on read once the docs are signed!
2/ Having someone on your cap table/ token allocation is as important as hiring.
You wouldn't hire someone just because they are influencers on Twitter- you do your reference checks and find evidence of value add from other companies the investor has invested in.
3/ Don't trust, verify.
Many investors will promise you the world when they're trying to get on your cap table.
Talk to founders they backed to see how much of it is bullshit. Ask them about how the investor was there for them during hard times.
4/ Don't just go for "name brand" funds because you want the brand.
Sure, it's great validation, but optimize for fit, not vanity.
However, I do think many well-known VCs are good actors, especially those with roots in successful trad VCs. They have a rep for a reason!
