Do you teach about entrepreneurship or venture capital? Here's information about a FREE classroom (or Zoom) exercise that you can use to help students understand why VC's and angels buy preferred stock instead of common stock:
https://youtu.be/I10KxF5pNLs
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Professor Richard Makadok
Brock Family Chair in Strategic Management
Krannert School of Management
Purdue University
http://www.makadok.com