{ "docId": "019f6b8f-71b9-7767-8357-69b177d37fb3", "docSlug": "jarvis-throne-vs-the-kingdom", "documentTitle": "Throne vs the kingdom", "authorId": "throne-vs-the-kingdom", "authorName": null, "documentKindSlug": "deck", "documentKindLabel": "Deck", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": null, "orientation": null, "aspectRatio": null, "pageNumber": 24, "pageCount": 45, "prevPage": 23, "nextPage": 25, "slideType": "appendix_data", "function": "analyze_data", "density": "dense", "nDataPoints": 13, "notes": "Page 23 of a research document; contains statistical results (p-values, correlations) and methodological notes.", "elementsJson": null, "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019f6b8f-71b9-7767-8357-69b177d37fb3/24", "deckHref": "/decks/019f6b8f-71b9-7767-8357-69b177d37fb3", "deckJsonHref": "/decks/019f6b8f-71b9-7767-8357-69b177d37fb3.json", "deckAnchorHref": "/decks/019f6b8f-71b9-7767-8357-69b177d37fb3#slide-24", "components": [ { "bbox": { "h": 0.1, "w": 0.8, "x": 0.1, "y": 0.85 }, "kind": "paragraph", "text": "23 To assess whether these three metrics were relatively synonymous with each other, I calculated the correlations between them. Of the three correlations, only CEO control and Board control were significantly correlated (r=.105, p<.01); there was no significant relationship between CEO control and equity-ownership control (r=.0109, p>.10) or Board control and equity-ownership control (r= -0.00877, p>.10).", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "35d01c2f-cc2d-4bfd-9c0d-f42aa5165b55", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.3, "y": 0.3 }, "kind": "paragraph", "text": "[INSERT TABLES 1-7 ABOUT HERE]", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "789deeee-1117-4ed4-a0c1-a027b594546f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.8, "x": 0.1, "y": 0.1 }, "kind": "paragraph", "text": "prior rounds of financing, 17% included founder capital, 28% included angel investors, and 71% included venture capitalists. Regarding control of the company, in 49% of the companies a founder was still CEO, in 21% of the companies the insiders controlled more than half of the seats on the board of directors, and in 41% of the companies the founders owned more than half of the company's equity.23 Geographically, 32% of the startups were located in California, 18% in Massachusetts, and 13% in the four \"secondary\" states.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b3a382b5-411a-4f51-993a-32a0f0d1cb63", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.8, "x": 0.1, "y": 0.35 }, "kind": "paragraph", "text": "Table 2 analyzes the degree of control retained by founders. Tables 3 and 4 test Hypothesis 2, and Tables 5 and 6 examine Hypotheses 3 and 4 about whether the tradeoff is driven by contingencies. Table 2 highlights variables that are significantly associated with control, using three metrics of control. Models 1-3 show the analyses using the control-index (which combines CEO control and Board control) as the dependent variable and Models 4-5 compare those results to separate analyses using each of CEO control and Board control. Most centrally, the results in Models 1-3 suggest that founder control is affected by decisions made throughout the evolution of the startup, including the prior experience accumulated by the core founder, cofounder decisions, hiring decisions, and financing decisions. In particular, founders retain more control when they have prior founding experience (p<.05) and when they attracted executive hires themselves (p<.01). These results support Hypothesis 1a. Founders have less control when there were more cofounders (p<.05), but the years of prior work experience of the cofounders does not affect control, providing only mixed support for Hypothesis 1b. Founders have less control when their hires have more years of work experience (p<.01), supporting Hypothesis 1c. Finally, founders have less control when the last round of investment included venture", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "eccfacbb-942d-403a-8495-d111f55bef3c", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "hypothesis-driven-structure", "slug": null, "matchId": "4aa5568b-2d5b-401d-9fd4-d1876bf2ca72", "evidence": "Mentions testing Hypotheses 1a, 1b, 1c, 2, 3, and 4.", "confidence": 0.9 } ], "arcBeats": [ { "to": 28, "from": 16, "beatId": "6ab56db9-5500-45bd-902c-6cf5d17f6a2f", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Solution", "beatSlug": "sequoia-pitch-solution", "evidence": "The document presents the results of the analysis and discusses the implications.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "loops": [ { "to": 30, "from": 20, "name": "Hypothesis Test", "slug": "42-hypothesis-test", "bestFor": "Strategy validation, due diligence, research presentations", "matchId": "9b8f41c3-6897-4fd9-a364-175680d0cf85", "evidence": "The document presents statistical analysis and results.", "position": 1, "objective": "Testing hypotheses about the relationship between founder control and value creation", "structure": "The Hypothesis -> Test 1 (Supports/Refutes) -> Test 2 (Supports/Refutes) -> Conclusion (Validated/Pivoted)", "confidence": 0.7, "description": "State a hypothesis upfront, then systematically prove or disprove it with evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }