Skip to Main Content
All Money Is Not Created Equal
book

All Money Is Not Created Equal

by David Spreng
July 2023
Intermediate to advanced content levelIntermediate to advanced
240 pages
5h 18m
English
Wiley
Content preview from All Money Is Not Created Equal

Chapter 18The Moral Contract

It's easy to be a great partner when everything's going well. The real test of a partnership is when things aren't going well. By then you're bound to each other, so hopefully you were careful and wise in choosing your partner(s).

One way we at Runway Growth Capital try to differentiate ourselves is by being seen as a strategic partner, not a commodity provider or merely the people on the other side of a transaction. That's important because we very rarely work with companies at the beginning of their financing journey, which means that our journey with a company is likely going to be shorter than a VC's. We have less time to “prove” ourselves and to get to know each other. The shorter duration of our partnership is one of the many reasons we are so careful about maintaining a good reputation and acting by the terms of what we call “the moral contract.”

This isn't to be confused with a “morals clause” – a portion of a contract that stipulates that someone is to behave in accordance with a certain agreed-upon standard of behavior, the violation of which will cause a penalty that could include the voiding of the contract. Nor is it the equivalent of what's agreed upon legally by both sides at the start of your relationship. A moral contract is one that you make with yourself and fulfill on behalf of others. I think of it as “What you do to and with your partners that allows you to sleep at night.” (I'm using “partners” loosely here, not in the legal ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

The Short Put, a Worthwhile Cash Cow

The Short Put, a Worthwhile Cash Cow

Michael C. Thomsett
The Rise of the State: Profitable Investing and Geopolitics in the 21st Century

The Rise of the State: Profitable Investing and Geopolitics in the 21st Century

Yiannis G. Mostrous, Elliott H. Gue, David F. Dittman

Publisher Resources

ISBN: 9781119887805Purchase Link