ToolPilot.ai provides an AI prompt designed to help startup founders understand term sheets from venture capitalists. It offers a series of questions that founders can use with large language models (LLMs) to analyze and interpret the terms, protecting the company's and founders' interests. The prompt covers key aspects like liquidation preferences, pay-to-play provisions, vesting schedules, anti-dilution clauses, board member inclusion, protective provisions, drag-along clauses, conversion clauses, dividend clauses, redemption clauses, conditions precedent to financing, information rights, registration rights, right of first refusal, voting rights, restrictions on sales, proprietary information and inventions agreement, co-sale agreement, founder's activities clause, initial public offering shares purchase clause, no-shop agreement, indemnification clause, and assignment clause.
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ChatGPT is an artificial intelligence language model developed by OpenAI, which is trained to generate human-like responses to natural language inputs. It has the ability to answer a wide range of questions on diverse topics, including science, technology, culture, history, and more.
In addition to providing insights and useful information, the model is also an excellent resource for learning and discovering.
Many fans of this brand new tech consider a key strength of ChatGPT to be its impartiality and unbiased approach (although some researchers question this and the model has yet to be proven in the long term). Open AI claims it does not have inherent biases or prejudices so it can offer objective advice and perspectives on important topics and offers an effective tool for research, fact-checking, and decision-making.
The most impressive feature is ChatGPT's vast knowledge base, trained on a large corpus of text data. It literally all the the knowledge of the internet distilled down into its own database. Need help with a complex problem? ChatGPT can assist. Need advice on solving coding issues? Gotcha. Want a detailed book outline for a concept in the style of your favorite author? Done.
ChatGPT is also an entertaining and engaging conversation partner. Its ability to generate human-like responses and engage in witty banter makes it an ideal companion for those seeking some lighthearted entertainment or a bit of intellectual stimulation.
Some key use cases for ChatGPT include:
- Research and information gathering: ChatGPT can quickly provide answers to specific questions or help users explore complex topics.
- Customer service and support: ChatGPT can assist customers with common inquiries or direct them to the appropriate resources.
- Education and learning: ChatGPT can provide valuable insights and explanations on a wide range of subjects, making it an excellent tool for students and lifelong learners.
- Entertainment and social interaction: ChatGPT can engage in casual conversation, tell jokes, and play games with users.
ChatGPT has been used in a variety of applications, including chatbots, virtual assistants, and language translation systems.
It's free to use and available to anyone with an internet connection.
Alternatives: Notion
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