Becki DeGraw on founder vesting, advisor equity & the 4-term-sheet play

Becki DeGraw, partner at Wilson Sonsini, joins Jason Calacanis for Startup Legal Basics to break down founder vesting, advisor equity pitfalls, and the art of turning one term sheet into multiple. They use the infamous story of YouTube's third co‑founder, who left for grad school and lost out on a fortune, to illustrate why every founder needs a vesting schedule—even if they never raise VC. The conversation covers the exact script for creating a competitive funding dynamic, what happens when an inactive advisor still vests, and why reputation in the tight‑knit startup world can make or break your next deal.