Chapter 35 Further Reading

Books

"Venture Deals" by Brad Feld and Jason Mendelson (4th edition, 2019) The most widely used practical guide to understanding venture capital term sheets and deal structures. While not written for creator businesses specifically, the chapters on equity mechanics, investor rights (pro-rata rights, anti-dilution provisions, board representation), and liquidation preferences provide essential vocabulary and conceptual framework for any creator who receives a formal investment offer. Read this before any serious investor conversation.

"The SBA Loan Book" by Charles Green (2011) Comprehensive guide to SBA loan programs and how to qualify. Outdated in some specifics but structurally sound on how the SBA lending system works, what lenders look for, and how to prepare a loan application. Useful for creators who have business history and credit sufficient to qualify for traditional debt financing before turning to more expensive alternatives like revenue-based financing.

"Raise Capital on Your Own Terms" by Jenny Kassan (2017) Kassan is an attorney specializing in community capital and alternative funding structures for small businesses. This book covers crowdfunding regulations, securities law, and how to design investment offerings that allow businesses to raise from their own communities without the complexity of institutional venture capital. Directly applicable to the equity crowdfunding strategies described in Chapter 35.

Articles and Research

"Black and Latino Founders: The Funding Gap" — BLCK VC (blckvc.com/research) BLCK VC, a community of Black venture capital professionals, publishes ongoing research on representation in venture capital and the funding gap affecting Black founders. Their data on VC investments by founder demographics is the source most frequently cited in academic and journalistic coverage of this issue. The reports are free and updated periodically.

"The Passion Economy and the Future of Work" — Li Jin, Andreessen Horowitz (a16z.com) Li Jin's foundational 2019 essay on the passion economy introduces the concept of individual creators building businesses that serve specific niche audiences at prices that larger platforms cannot support. Her follow-up essays on creator monetization, creator equity, and the structural challenges facing BIPOC creators are essential reading for anyone building in the creator economy space. Jin's subsequent work (available through her Substack after leaving a16z) continues this analysis.

"Gymshark: From Gym Bag to Billion Dollar Brand" — Business of Fashion (businessoffashion.com) A detailed journalistic account of Gymshark's origin, growth strategy, and General Atlantic investment. Includes interviews with Francis and business development leaders, providing the creator-to-company narrative in the principals' own words. Useful for understanding how the Gymshark story is told by the company itself versus how the case study in Chapter 35 analyzes it from an investor relations perspective.

Online Resources and Tools

Republic (republic.com) The most creator-friendly equity crowdfunding platform. Republic's published campaigns are publicly visible and include financials, terms, and use-of-funds disclosures. Browsing funded campaigns in the creator economy and media space provides concrete examples of valuations, equity percentages, and investment theses used by real businesses. The platform's Creator Economy collection specifically features creator-adjacent campaigns.

Clearco (formerly Clearbanc) (clear.co) Clearco is among the most active revenue-based financing providers serving digital-first businesses, including e-commerce brands and creator businesses. Their website includes an RBF calculator that models repayment schedules based on business revenue inputs. Using this calculator with your actual or projected revenue figures provides more intuitive understanding of RBF economics than any textbook description.

Small Business Administration (sba.gov) The SBA's official resource for small business financing, including an SBDC locator (to find your local Small Business Development Center) and grant program listings. The SBA also administers the 8(a) Business Development Program for socially and economically disadvantaged business owners. Creating a free account allows access to mentorship and technical assistance programs in addition to financing resources.

Creator Economy Investment Coverage

"Creator Economy VC Landscape" — The Information, Axios, and Axios Pro Rata Axios Pro Rata (axiospromirates.com) and The Information (theinformation.com) publish regular coverage of creator economy investment activity — which funds are investing, at what valuations, in which categories. Following this coverage provides ongoing awareness of the investment landscape that is relevant if you are considering approaching creator economy investors. Note that The Information requires a paid subscription.

MaC Venture Capital (macventurecapital.com) MaC Venture Capital is one of the most visible BIPOC-led venture funds in the U.S., investing in technology and creator economy companies. Their published portfolio and publicly available investment thesis provide a clear picture of what BIPOC-focused VC looks like in practice and what types of businesses these funds seek. Understanding how their investment criteria differ from traditional VC is useful context for the equity callout discussion in Chapter 35.

"The State of Creator Economy Investing" — various annual reports Several creator economy research firms including Signalfire, Bessemer Venture Partners, and Loup Ventures publish annual "state of the creator economy" reports that include analysis of investment activity, valuations, and emerging funding models. These reports are freely available and provide context for how the investment landscape is evolving — relevant because the creator economy funding ecosystem described in this chapter is changing rapidly.