Miscellaneous
FounderLine is a live weekly webcast devoted to helping startup founders succeed, hosted by seven-time startup entrepreneur and investor Joe Beninato. Each week, Joe welcomes an experienced entrepreneur or investor to discuss startup-related topics and field questions from entrepreneurs around the world. FounderLine is broadcast live, and viewers are welcome to send questions via email or twitter. For more information, go to founderline.com. In this episode, host Joe Beninato and guest Mitch Zuklie of Orrick answer viewer questions including:- I am starting a company and trying to choose between creating an LLC vs. a corporation. Can you please explain the pros/cons?- What are some common patterns you've observed in the successful founders you have met throughout your life?- You hear about startups getting tangled up fighting frivolous lawsuits, can't raise money because of the suit, and end up settling or shutting down. What can be done to protect your startup from shakedowns like this?- There have been many stories of founder/CEOs who have been replaced by a so-called "professional CEO." In your experience, what are the main reasons this happens and how does this work out for the company?- It seems that 3 possible funding mechanisms are equity, convertible debt and the YC SAFE. Can you talk about why you might chose one over the other?