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Changelog

Built in public.

Every shipped release, every rubric update, every deal-index milestone. If we change how the Founder Fairness Score works, you read it here first — and the version it was scored against is preserved forever.

  1. 29 APR 2026
    LAUNCH

    TURNSHEET marketing site goes live

    Public site at turnsheet.co. Founder waitlist open. The Red Flag library opens with 30 fully-explained predatory clauses, the Reform Pledge opens for VC signatures, and the Founder Capital Pool ledger is wired up and waiting on first inflow.

    • → Launched the founder waitlist with regional segmentation across APAC, Australia/NZ, North America, Europe.
    • → Published 30 full red-flag entries — plain English, why it matters, how to negotiate, and example language for each.
    • → Opened the Reform Pledge: VCs can publicly sign on to founder-friendly term commitments.
    • → Established the Founder Capital Pool transparency ledger structure. First entry posts when first VC subscribes.
  2. 29 APR 2026
    DEBT

    Debt financing red flags now live

    Eleven new entries covering venture debt, revenue-based financing, convertibles, SAFEs, and the founder personal guarantee — the clauses that quietly trigger collapse. Browse them at /debt-flags.

    • → Venture debt: MAC clauses, financial covenants, IP security interests, warrant coverage, and springing recourse — the levers a lender pulls when a round slips.
    • → Revenue-based financing: uncapped revenue share and prepayment penalties — how RBF turns into permanent tax on growth.
    • → Convertibles & SAFEs: post-money SAFE stacking, MFN cascades, and uncapped valuation caps — the silent dilution founders only see at the next round.
    • → Bank debt & equipment leases: the founder personal guarantee — the single clause most likely to follow you out of the company.
  3. 22 APR 2026
    INDEX

    Deal Index begins indexing APAC term sheets

    We started ingesting and classifying real APAC term sheets to build the regional benchmark database that powers the Founder Fairness Score.

    • → Source: founder submissions, public filings, and partner-firm contributions.
    • → Privacy: every submission is stripped of names, emails, and identifying details before classification.
    • → Goal: 1,000 term sheets indexed by Q3 2026 across SEA, Greater China, Australia/NZ, and India.
  4. 15 APR 2026
    RUBRIC

    Founder Fairness Score rubric v0.9 published

    The scoring rubric is open and versioned. Every clause's penalty, the regional benchmarks, and the calculation method will be public from day one.

    • → v0.9 is the pre-public draft. v1.0 ships with the product launch.
    • → Each rubric version is timestamped and immutable — historical scores will always be reproducible from the rubric they were generated against.
    • → Founder feedback on the rubric is being collected via the waitlist intake.
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