What Does a Mexican Term Sheet Reveal About the Soul of a Global Startup?
Four celebrated Mexican startups—Kavak, Clip, Konfío, and Bitso—reveal something uncomfortable: the playbook that takes them from Mexico to the world is written as much in their shareholder agreements as in their code. This essay follows one “tiny” artifact—the cross-border term sheet—to explore both the higher purpose and the hidden costs of expanding from Mexico to the rest of the world.
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