> They're left holding shares that are illiquid
More specifically, how much is a SAFE for 7% of a small business worth? If there are no liquidity events it will be impossible for investors to even get their money back let alone outperform SPX
More specifically, how much is a SAFE for 7% of a small business worth? If there are no liquidity events it will be impossible for investors to even get their money back let alone outperform SPX
It's perverse of course but it can be something baked into the structure of how VCs and other funds work.