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'Getting paid' and/or winning a prize is a very different thing from taking an investment. You don't 'win' a convertible note, you agree to give up an as-yet-t

'Getting paid' and/or winning a prize is a very different thing from taking an investment. You don't 'win' a convertible note, you agree to give up an as-yet-to-be-determined portion of your company for it. The participants will almost certainly understand this, but I still find the rhetoric a bit off-putting.

jtriest 16y ago
jonathon from ludlow ventures again... i apologize if any of the language is misleading. our goal is to be as transparent as possible. in fact, we will be posting the actual note soon... this way everyone knows what's being offered.
GBond 16y ago
Probably phrased that way for "oompf" factor. "Win a favorable term loan" doesn't quite have the same ring to it. Might I suggest the a new terminology for founder favorable seed-round convertible notes?: "Yuri bucks" edit: BTW, great to see an innovative startup event taking place in downtown Detroit.
- gyardley 16y ago
  Not too hard to fix and retain the oompf: 'Demo your startup to receive a $100K convertible note. Bring it. Kill it. Get funded.'
  - jtriest 16y ago
    like that too. will talk it over with the team. thanks!
deleted 16y ago
[deleted]
GavinB 16y ago
"Win" is perfectly reasonable to use whenever someone is gaining something that they want. For instance "I hope we win that big contract we bid on." The contract isn't free money, but it's considered a "win" because it's a favorable outcome. If your business wants a 100k convertible note, it's very reasonable to say you're going to try to win it with a great pitch. Edit: Personally I find the phrase "earn an excuse to continue living the dream" on the about page a bit more troubling.