diff --git a/mba/ch30.org b/mba/ch30.org
index dcea7c6..eab9fd8 100644
--- a/mba/ch30.org
+++ b/mba/ch30.org
@@ -127,3 +127,29 @@ PE * net_income = Value
 - Total Shares / Percentage of Company
 - 2mn / 8.4
 - 23.7 mn
+
+** employee shares
+we also need to set aside shares as employee incentives
+
+those shares will have to come out of the owners share
+
+*** reasons for giving stock options
+- cheaper than salary
+- motivates to work as a team
+
+*** conditions
+- vesting
+  - you can only sell after X number of years
+  - give more options every yeats
+
+** B round
+- if tracking better than expected
+- accelerate growth by raising more money at a higher valuation
+
+** VC terminology
+| Terminology                | Explanation           |
+|----------------------------+-----------------------|
+| Unicorn                    | valuation: $1 billion |
+|                            | probability: < 0.07%  |
+| Black Holes / Walking Dead | break even            |
+|                            | probability > 0.07%   |
diff --git a/mba/ch34.org b/mba/ch34.org
new file mode 100644
index 0000000..98b436c
--- /dev/null
+++ b/mba/ch34.org
@@ -0,0 +1,10 @@
+#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../../../../_share/media/css/org-mode.css" />
+#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../_share/media/css/theme-business.css" />
+
+#+title: Section 6 | Lesson 34 - Income Statement, Balance Sheet, Financial Risk
+
+* Links
+- [[./../mba-main.org][<Back to Main MBA]]
+- [[https://www.udemy.com/course/an-entire-mba-in-1-courseaward-winning-business-school-prof/learn/lecture/4311526#overview][S06:L34 Income Statement, Balance Sheet, Financial Risk]]
+
+* Notes