Cap Table Workshop

What this workshop is about

Cap tables look simple until they aren't. You raise a round, convert a SAFE, issue an option pool, and suddenly the math isn't adding up and you're not sure where the ownership actually landed.

AI makes this worse before it makes it better. It will explain conversions clearly and then quietly hand you wrong share counts, with reasoning that sounds right. The fix isn't avoiding AI, it's knowing the mechanics well enough to catch it.

This workshop is built around that. Taught by Taylor Davidson, it breaks down what a cap table is, why it matters, and how it changes as companies raise capital, issue equity, and make key ownership decisions. It works a real case end to end, from first principles, covering the structures, the math, and where AI fits in (and where it doesn't).

You can get it two ways. Buy the recording and you have the full session plus every slide and worksheet immediately. The workshop also runs live on a recurring basis, and your purchase includes a seat at every future live session, so you can watch now and join a live run later to ask questions on your own cap table. Whether you're building a startup, advising one, or want a clearer grasp of ownership mechanics, you'll come away with a stronger understanding of cap tables, a sharper sense of how to work with them efficiently, and the judgment to use AI on this work without getting burned.

What will be covered

The workshop builds a real Series A cap table from first principles, working one case study end to end, from the existing shareholders through a closed round. Along the way:

• The mental model that makes cap tables click
• Modeling a priced equity round: how the share price is set, and why the denominator is the part that matters
• Converting SAFEs and convertible notes in a round: discounts, valuation caps, and who gets diluted
• Creating and expanding the option pool and how it impacts share prices
• How anti-dilution adjusts the cap table in a down round
• Where AI helps with cap table work, and where it quietly hands you the wrong share counts

Who this is for

Founders building companies, advisors working with them, and anyone who needs to understand the mechanics of ownership and capitalization. No prior modeling experience required.

What you'll walk away with

Stronger comprehension of cap table mechanics, a repeatable approach for thinking through rounds and conversions, and a clearer sense of when to DIY versus when to bring in help.

Follow-up

Practice exercises and 1-on-1 review sessions are available to anyone who has the workshop and wants to apply what they learned to their own cap table.

Related

• Cap Table & Exit Waterfall, the flagship spreadsheet for modeling cap tables and exit waterfalls
• Docs: Customize, guides for modeling equity rounds, convertibles, options, and waterfalls
• Cap table audit, if you need a review of a human or AI-built cap table before you trust it