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Y Combinator’s safes spread – L.A. accelerator is now issuing them
- codezero 13y agoIs there anywhere that discusses/describes SAFE and its benefits/trade-offs in detail?
- minimax 13y agoThis looks like a pretty good place to start: http://ycombinator.com/safe/ http://ycombinator.com/safe/
- codezero 13y agoGreat, thanks!
- jacobheller 13y agoMy startup, Casetext (YC S13), has the full text of the SAFE annotated by lawyers, investors, and founders: https://casetext.com/contract/simple-agreement-for-future-equity https://casetext.com/contract/simple-agreement-for-future-eq...
- codezero 13y agoThis is great, thanks!
- gus_massa 13y agoDiscussion of the original announcement: https://news.ycombinator.com/item?id=6862461 https://news.ycombinator.com/item?id=6862461 (487 points, 33 days ago, 117 comments). In particular read the first comment, from user grellas. (He is a lawyer.)
- timdorr 13y agoI know of at least one Atlanta-based accelerator that is using them too. They seem to be fairly sound and better than other financial docs.
- durkie 13y agois that flashpoint?
- minimax 13y agoIs "SAFE note" a valid way of referring to a SAFE security? If it's not a debt instrument, it seems weird to call it a "note." It almost sounds more like an equity option (i.e. investors are buying the right to buy a certain amount of equity at a set price in the future).
- steeve 13y agoChiming in to say that SAFE has been "ported" to France thanks to the awesome folks at TheFamily, it's called AIR: http://www.meetair.co/ http://www.meetair.co/
- rhc2104 13y agoI have a question about the SAFE. SAFE holders don't seem to have the right to veto dividends. Shouldn't they have that right? What stops a company from issuing SAFEs, making a big dividend, and letting the company's shell fold?
- ChuckMcM 13y agoThis is pretty neat, the whole concept of 'open legal' is fascinating to me. For years it seems Lawyer's were like machinists of old, carrying around their own special sauce of document [1]. Now quality, vetted, legal documents are pretty straight forward to come by. This is pretty cool in my opinion. [1] This was the root of a long running joke in Intolerable Cruelty referring to the 'Massey Prenup' -- http://www.imdb.com/title/tt0138524/ http://www.imdb.com/title/tt0138524/
- memossy 13y agoWhat discounts are SAFEs going to be issued at? Assuming no caps yet?