The debt holder (your investor) makes the "decision". It's important to realize that the use of debt like this is a legal hack. It's not intended to be a real l

The debt holder (your investor) makes the "decision". It's important to realize that the use of debt like this is a legal hack. It's not intended to be a real loan or repaid like one. This is one of the things YC fixed with Safe http://blog.ycombinator.com/announcing-the-safe-a-replacement-for-convertible-notes http://blog.ycombinator.com/announcing-the-safe-a-replacemen...