Startup Jargon

Runway

Time left before cash runs out

Burn Rate

Speed of spending cash

MVP

Simplest testable product version

PMF

Product actually fits market

Cap Table

Who owns what shares

Term Sheet

Draft deal terms

Series A/B/C

Funding rounds by stage

Vesting

Earning stock over time

Bootstrapping

No outside funding, self-built

Pivot

Changing core business direction

Unicorn

Startup worth over $1B

Down Round

Lower valuation than before

Dilution

Your share shrinks, others invest

Convertible Note

Loan turning into equity

Churn Rate

% of customers leaving

CAC

Cost to get one customer

LTV

Total value from one customer

Exit Strategy

Plan to sell or cash out

Angel Investor

Person funding early startups

Traction

Proof people want the product