Key Takeaways: Not all Notes are created equally—know the difference between Fully Diluted Basis vs. Issued and Outstanding. Not all shares are created equally—know the liquidation preference stack. There are 3 main ways to convert notes. Post-Money Safes are highly dilutive.
#9 Episode - The Mutable Laws of VC
#9 Episode - The Mutable Laws of VC
#9 Episode - The Mutable Laws of VC
Key Takeaways: Not all Notes are created equally—know the difference between Fully Diluted Basis vs. Issued and Outstanding. Not all shares are created equally—know the liquidation preference stack. There are 3 main ways to convert notes. Post-Money Safes are highly dilutive.