4 ms·
>We are going to keep things simple and use a convertible note with 20% discount and a $4M cap. > Normal’s response: That doesn’t sound simple at all. Why is t
by ganeshkrishnan 9y ago
>We are going to keep things simple and use a convertible note with 20% discount and a $4M cap.
> Normal’s response: That doesn’t sound simple at all.
Why is this not simple? I thought the point of convertible note/safe was to make seed round as simple as possible.
Is there something I am missing?
- bshimmin 9y agoIt's not simple if you don't know what a "convertible note" and a "cap" are.
- jessmartin 9y agoNot to mention "20% discount." Discount on what?