Brad Feld says the typical discount is 20% - 40%. I think a lot of investors ask for caps as well, which is essentially pricing the round (so don't let them pic

Brad Feld says the typical discount is 20% - 40%. I think a lot of investors ask for caps as well, which is essentially pricing the round (so don't let them pick one that you would regret). http://www.feld.com/wp/archives/2006/02/whats-the-best-structure-for-a-pre-vc-investment.html http://www.feld.com/wp/archives/2006/02/whats-the-best-struc... PG said YC would release their convertible debt agreement, but I don't think they've gotten around to it yet. http://news.ycombinator.com/item?id=1655585 http://news.ycombinator.com/item?id=1655585