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Outcomes: Real Answers to Venture Finance Questions (With Numbers)

If you have ever asked a question like “when does the preferred convert?” or “what do my options actually net after dilution?”, you already know the problem: most answers are either vague or spreadsheet-heavy. We built Outcomes Pages to close that gap.

Outcomes are calculation-backed articles that do three things at once:

  1. give a clear answer
  2. show a worked example with real numbers
  3. let you change inputs and see outcomes live

Below is the short version, the example, and how the new Outcomes features fit into the rest of the Venture Calculator.

TL;DR

  • Outcomes turn specific venture questions into concrete numbers.
  • Every page includes a worked example, breakpoints (where the answer flips), and an embedded model.
  • All calculations run locally in your browser. We do not store your inputs.

The short answer

Outcomes are the “answer layer” on top of our calculators. Instead of starting with a blank model, you start with a real scenario and see how the outcome changes when you tweak the inputs.

That means you can go from “I think we exit for $120M” to “here is what founders, investors, and employees actually receive” in a few clicks.

What is an Outcomes Page?

Each Outcome is a standalone explanation of a single venture finance question, with the inputs and outputs baked in. It is not a blog post full of generic advice. It is an outcome-driven analysis with numbers.

Every page contains:

  • a crisp answer (TL;DR)
  • a worked example with intermediate values
  • a mini interactive model (using the same logic as our calculators)
  • a breakpoints table (where the answer changes)
  • exportable outputs (CSV/Excel/PDF)
  • a direct path into the full calculator mode

A quick example: SAFE cap vs discount

Let us say you raised a $750K SAFE with an $8M cap and a 20% discount. The priced round is at a $12M pre-money with $6M of new money.

The question: which term wins at conversion?

The answer: the SAFE converts at the lower price. In this case, the cap wins once pre-money is above $10M.

Worked math (simplified):

  • Discount price = $12M * (1 - 20%) = $9.6M effective
  • Cap price = $8M
  • Lower price wins -> cap applies

Your ownership outcome changes materially at the breakpoint where cap and discount are equal. The Outcomes Page shows that breakpoint explicitly and lets you drag the pre-money to see the switch happen in real time.

Breakpoints: where the answer flips

Most venture questions are threshold-based:

  • when does preferred convert?
  • at what exit does participation cap bind?
  • when do my options break even?

Outcomes compute those thresholds directly and list them in a small breakpoints table. This is the single biggest difference between generic advice and an answer you can make decisions with.

The embedded model

Every Outcomes Page embeds a mini-model that mirrors our calculators:

  • Liquidity outcomes
  • Cap table outcomes
  • Employee option outcomes
  • SAFE and convertible outcomes
  • IPO outcomes

You can switch between presets (base / upside / downside), change inputs, and export results. When you want more detail, the page sends you straight into the full calculator with the same inputs pre-loaded.

Privacy, by design

We have always said “all calculations run locally.” Outcomes keep that promise.

  • No inputs are sent to a server.
  • Sharing uses a compact, encoded URL state.
  • You can share a scenario link without uploading or saving inputs anywhere.

How to use Outcomes

  1. Start with the question you care about (liquidation preferences, SAFE conversion, employee options, dilution paths).
  2. Pick a preset and compare it to your own inputs.
  3. Export the output or open the full calculator for deeper modeling.

What this unlocks for you

For founders, it means a grounded view of what a “good exit” actually means.

For employees, it means a realistic view of options value after dilution.

For investors, it means a fast way to see MOIC and conversion thresholds before a round closes.

Where to start

We launched the Outcomes hub with pages that map to our strongest calculators:

  • liquidation preference breakpoints
  • option pool shuffle outcomes
  • SAFE cap vs discount conversion
  • employee option value after dilution
  • IPO float + fees outcomes

You can find them all under /outcomes. Each one is designed to be a complete answer, with the model right there on the page.

Last updated

  • 2026-01-20: Initial Outcomes launch and introduction.