Cap Table Workshop

What this session is about

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

This workshop breaks it down. Not in the abstract, working through the structures with a cap table in front of you. Plus: where AI can speed up the work, organize the thinking, and support better decisions (and where it cannot).

What will be covered

• What a cap table actually is and why it matters
• How cap tables evolve through rounds: equity, SAFEs, convertible notes, option pools
• Ownership, dilution, and what changes with each instrument
• Where AI helps and where human judgment still matters
• Efficiency strategies for keeping a cap table clean as you scale

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 available after the workshop for participants who want to apply what they learned to their own cap table.

Related

• Cap Table & Exit Waterfall, the underlying model used in the workshop
• Docs: Customize, guides for modeling equity rounds, convertibles, options, and waterfalls
• Audit your AI, if you need a review of an AI-built cap table before you trust it