3 ms·
This model doesn't seem to handle down rounds well, unless I missed something.
by thatthatis 12y ago
This model doesn't seem to handle down rounds well, unless I missed something.
- maxcan 12y agoIt "handles" them in the sense that the math doesn't call apart. What happens is that the implied rate of return is negative and purchases towards the end of the period get more shares than those at the beginning.