Founders Only: Inside Our Conversation with Peter Walker of Carta

At Innovation Depot, being a founder means more than having a place to work. It means being plugged into a network of people, resources, and conversations designed to help you build smarter. Founder Only events are a great example of how this community brings entrepreneurs together.

Recently, our community had the opportunity to join an exclusive virtual session with Peter Walker, Head of Insights at Carta, for a candid conversation on startup equity, fundraising, venture capital, and what founders need to understand before giving away pieces of their company.

Peter spends his days analyzing Carta’s massive startup dataset, which includes insight from tens of thousands of companies across the venture ecosystem. During the session, he walked founders through real data on co-founder splits, advisor equity, employee option pools, SAFE notes, venture trends, and what investors are really looking for in today’s market.

And, this truly exclusive session, this was not a surface-level webinar. It was a direct, honest conversation built specifically for founders who are actively making decisions that can shape the future of their companies.

Real Advice for Real Founder Decisions

One of the biggest themes of the session was simple: equity decisions matter.

Peter encouraged founders to think carefully about how ownership is divided from the very beginning, especially with co-founders. While many teams assume a 50/50 split is the obvious answer, Peter pointed out that most companies on Carta do not actually split equity equally. His bigger point was not that one structure is better than another, but that founders need to have the hard conversation early.

That same mindset carried into his advice on vesting schedules. Peter was direct: if you are building a venture-backed company, founder vesting is not optional. It protects the business, the remaining founders, and the company’s ability to raise money if a co-founder leaves.

The Truth About Advisors, Employees, and Equity

Peter also challenged founders to be cautious about how they give equity to advisors.

His perspective was refreshingly blunt: advisor equity is often overused, and many advisors do not deliver enough value to justify a meaningful percentage of the company. Instead, he encouraged founders to tie advisor equity to clear expectations, deliverables, or performance-based outcomes.

He also broke down employee equity, including how early hires are typically compensated and why the first few team members can be some of the hardest people to recruit. For startups, equity is only one part of the pitch. Mission, growth, agency, and the chance to build something meaningful often matter just as much.

Venture Capital Is Not the Default Path

One of the most valuable parts of the session was Peter’s honesty around venture capital.

Rather than treating fundraising as the obvious goal for every startup, he encouraged founders to ask a better question first: Do I really need venture capital?

For some companies, VC can be the right tool. For others, bootstrapping or building with revenue may lead to a better outcome. Peter made it clear that venture capital comes with expectations, especially around speed, scale, and growth. Once a company takes venture money, it is no longer operating on the founder’s timeline alone.

For founders in Alabama and the Southeast, Peter’s advice was especially relevant. He acknowledged that venture can be unfair and highly network-driven, but he also emphasized that momentum still matters most. Fast growth, a clear story, and real traction can open doors no matter where a company is based.

Focusing on Founders

This session with Peter Walker is a perfect example of what we are building at Innovation Depot.

Founders need more than encouragement. They need access. Access to data. Access to experienced operators. Access to honest conversations. Access to people who can help them understand what is coming before they are in the middle of it.

And that is exactly what Innovation Depot is here to do.