It 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 det

It 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.