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The trend lately is toward convertible notes issued by the startup itself. This means that nobody is leading and nobody is pricing the deal. There are plenty o
by joshu 16y ago
The trend lately is toward convertible notes issued by the startup itself. This means that nobody is leading and nobody is pricing the deal.
There are plenty of other people (VCs, basically) that do lead, when there is a leader. It's just much rarer right now. And the stronger deals, not the weaker ones, tend to be lead; those are the deals where the entrepreneur has the most leverage, not the weakest.
I don't get the impression that anyone is fixing the market, for what it's worth.
But thanks for the outrage and accusations.
- bl4k 16y agoI didn't mean to come across as outraged or to make accusations - it was a genuine observation. When I raised a note I set the price, but it was through talking to the investors. That was a while ago though. I think the core of what Arrington is saying is that they attempted to fix the market. ie. got fed up with how things are atm and tried to fix it in their own way. I know that some of these guys have been against notes for a while, but end up doing them anyway.