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Just curious, will this change how SAFE docs are structured? IANAL, but right now SAFEs make it challenging for seed investors to get pro rata. That has already
by lpolovets 11y ago
Just curious, will this change how SAFE docs are structured? IANAL, but right now SAFEs make it challenging for seed investors to get pro rata. That has already been frustrating, and becomes a little more frustrating if YC automatically gets pro rata on top of that. I know it's a free market, and I don't have to invest if I don't like the terms, and so on, but it feels weird for me if YC takes pro rata by default, while their default docs for seed investors are stingy with pro rata rights.
- MatthewMcDonald 11y agoThe default SAFE docs [0] already have pro rata rights agreements in them. [0] http://www.ycombinator.com/documents/ http://www.ycombinator.com/documents/
- lpolovets 11y agoInteresting. I wonder if the docs evolved at some point. In the first few SAFEs that we did, we had to get side letters/special agreements for pro rata rights.