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Congrats on the launch! Both Trailhead and SEAL are very interesting ideas, and I really hope they take off (read: get copied by more investors ;) As an early
by guptaneil 6y ago
Congrats on the launch! Both Trailhead and SEAL are very interesting ideas, and I really hope they take off (read: get copied by more investors ;)
As an early stage bootstrapping founder, I'm curious to see how Trailhead works in practice. But regardless of whether or not it works, thanks for thinking like a founder and being willing to experiment.
btw small typo: the link to 1 Second Everyday in your portfolio actually directs to yac.chat
- throwaway243711 6y agoThe SEAL is basically debt with a super weird equity kicker that could completely ruin your cap table if you need to raise before paying any debt back, so hoping nobody copies it.
- guptaneil 6y agoIt reads like debt funding that turns into a SAFE if you decide bootstrapping isn't for you after all. That sounds reasonable to me, but the devil is in the details. As a founder, it's nice to have options though. Fundraising is a series of pros and cons. As we're seeing in this downturn, SAFE's aren't that safe either, but I'd still choose that over the hassle of a priced seed round. Ideally investors would provide multiple options, and one could choose the vehicle that aligns with your goals the best.
- throwaway243711 6y agoReads like, but isn’t anything like a SAFE. A SAFE converts at a discount (20%?), a convertible note converts including an interest rate (7% annually?), a SEAL converts at 3-5x investment amount.