Of course Vinod Khosla has an agenda. However, I know some very smart and helpful investors who don't do convertible notes and/or won't touch YC companies becau

Of course Vinod Khosla has an agenda. However, I know some very smart and helpful investors who don't do convertible notes and/or won't touch YC companies because they think they're overpriced (I'm not one of them). There is no one-size-fits-all for this. Some companies need certain investors to help them, some are better off getting cheap capital. A smart entrepreneur would decide what his/her company needs and optimize accordingly.