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When a problem comes along, you must skip it. When something's going wrong, you must skip it. Skip it! SKIP IT GOOD! (...Unless you have extra time at the end, in which case you should go back to it and also consider using Process of Elimination.)

The Facebook Deal: Equity Lowdown Quizlet

  • 1.

    If Facebook turns out to be a terrible idea and liquidates, and the assets are worth $210,000, what do the co-founders get? Assume that the ownership is the same as stated above.

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  • 2.

    Same facts, except that Peter’s convertible stock isn’t “participating.” The company fetches $600,000 in liquidation. How much do the co-founders each get?


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