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David J Phillips Profile
David J Phillips

@davj

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Founder & CEO @tryfondo – accounting on autopilot for 1,000+ startups. Angel: Flexport, LiquidDeath, Rippling, Cluely, 100+.

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Joined July 2010
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@davj
David J Phillips
8 months
Today, I’m thrilled to share that @tryfondo has raised a $7M seed round to accelerate our mission of putting accounting on autopilot for startups. With Fondo, startups don’t need to worry about tax penalties, financial statement errors, or missing out on up to $500k in tax
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@davj
David J Phillips
2 days
How to respond to “Who else is investing?”. - You wouldn’t know her, she goes to a different school.- Me. I’m investing so much time and energy, you have no idea.- Some big names, we have an ex-Google user and current Facebook user.- It’s your biggest rival, and they’ve already.
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@davj
David J Phillips
3 days
If I were raising for an AI startup, here’s what I’d make sure was in my pitch deck:. - One slide that says “We’re an AI startup”.- Next slide with wire details. You could honestly cut the first slide too.
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@davj
David J Phillips
3 days
Market is being weird right now, so I’ve reallocated my net worth significantly:. - 20% stocks.- 30% PSA 10 Charizards.- 15% blue-chip .ai domains.- 25% Nvidia H200 GPUs.- 10% precious metals from 73 different credit cards. How are you handling your finances?.
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@davj
David J Phillips
4 days
Startup valuation calculator:. - .ai domain +$500mm.- Ex-Stanford founders +$300mm.- Not an AI startup -$100bn.- Founder has 20k+ on LinkedIn +$400mm.- Remote -$100mm.- Remote but they’re just in different parts of the Bay Area +$100mm.- Pre-revenue +$50mm.- Post-revenue -$50mm.
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@davj
David J Phillips
4 days
RT @brian2346: Founders: the most generous tax break in America just leveled up.QSBS changes = $2M+ in additional tax-free upside on your e….
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@davj
David J Phillips
4 days
America just handed founders a tax break to build wealth, fast:. 🇺🇸 Corporate tax rate: 21%. 🇺🇸 QSBS limit: $15M. 🇺🇸 Partial gains at 3–4 years. 🇺🇸 $75M asset cap. See if your startup qualifies.
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@davj
David J Phillips
4 days
What should you do with this?. If you’re launching a new startup:.✅ Incorporate as a C-Corp.✅ Issue founder stock asap.✅ File your 83(b) within 30 days.✅ Understand QSBS rules up front.✅ Plan for $15M tax-free if you win.
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@davj
David J Phillips
4 days
Another upgrade: the asset cap got raised. Before: if your startup had >$50M in assets (usually after raising a big round), new stock didn’t qualify as QSBS. Now? The new limit is $75M. So fast-growing startups can issue QSBS stock for longer.
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@davj
David J Phillips
4 days
You used to need to hold QSBS stock for 5 full years to get any benefit. Not anymore. 🆕 For stock acquired after July 4, 2025:. 3 years = 50% exclusion. 4 years = 75% exclusion. 5 years = 100% exclusion. Big win.
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@davj
David J Phillips
4 days
Not sure if your startup qualifies?. @tryfondo made a free QSBS eligibility checker - takes 2 minutes. Could save you millions. 👉
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@davj
David J Phillips
4 days
Better yet: QSBS is still per shareholder. With a smart structure (e.g. co-founders, spouses, grantor trusts), you can still stack multiple exemptions . $15M × 2 = $30M.$15M × 3 = $45M.
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@davj
David J Phillips
4 days
QSBS = 0% capital gains tax on up to $10M in stock sales. As of July 4, 2025, that cap is now $15M 🎉. That’s an extra $5M in profit that is tax-free. No offshore games or loopholes. Just good old C-Corp stock.
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@davj
David J Phillips
4 days
It’s official - last week QSBS got a massive upgrade . Founders, early employees, and investors now get even more tax-free upside when their startup exits: $2M+ in savings. The most generous tax break in America 🇺🇸 just got more generous. Here’s what changed (shout out to Jake
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@davj
David J Phillips
4 days
RT @tryfondo: Go @yanatweets & @Kraftful team!! Congratulations to all 🎉.
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@davj
David J Phillips
4 days
RT @yanatweets: @davj @Amplitude_HQ Thanks David! And your team did an amazing job with our accounting in this process. So grateful!.
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@davj
David J Phillips
5 days
You ask your parents for photos from your childhood for useless “memories”. I ask my relatives for photos from my childhood so I can use AI to create a video of me as a kid saying the idea for Facebook. (conveniently timestamped just 18 months before Mark Zuckerberg created it).
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@davj
David J Phillips
5 days
RT @renebrandel: Bullish on @brian2346 and the @tryfondo team.
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@davj
David J Phillips
5 days
RT @tryfondo: Keep accounting boring
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@davj
David J Phillips
6 days
“AI will replace humans” I’d like to see AI forget to show up to a meeting.
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@davj
David J Phillips
7 days
The top 1% talent in the world insures the craziest things. - Mariah Carey insured her voice for $35 million.- David Beckham insured his legs in 2006 for $195 million.- Gordon Ramsey had his taste buds insured for $10 million.- Mark Zuckerberg insured his company for $14 billion.
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