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Please note: This is a companion version & not the original book. Book Preview: 

#1 All pies start out as worthless ideas. They are essentially worthless in the beginning. If you can produce an idea for less than people are willing to pay for it, then you have built value.

#2 The value of the pie is based on the amount of income it is able to generate. The future is uncertain, so the value of a pie can vary dramatically depending on who is looking at it.

#3 When a company is sold, the buyer purchases the entire pie, and the seller's share is zero percent. This is known as an exit. Investors are always talking about exit strategies because they want to know how they will cash out of the business and receive a return on their investment.

#4 When you put cash in a company in exchange for equity, it helps set a benchmark for the company's value. Whatever the investor paid for equity is generally considered a good indicator of what the rest of the world will say the company is worth.

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