Unintended Consequences: When SAFE and Convertible Notes Go Awry
Pascal's View
JULY 9, 2017
Andrew Krowne and I recently co-wrote an article in Tech Crunch , Why SAFE Notes Are Not Safe for Entrepreneurs. The most serious unintended consequence occurs from “note waterfalls”— converting multiple notes that have multiple valuation caps. Many entrepreneurs lose track of what they have been cooking up in the cap table.
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