Re:Announcing the Safe, a Replacement for Convertible Notes
by danshapiro on Saturday December 07, 2013 @04:07AM
(#6866001)
Aha. It seems odd then to say that there are two choices in the case of MFN conversion, when they amount to the same thing.
I know YC has seen MFN usage in the "everyone gets $100k" scenario, but I also could see them useful for family and friends rounds where an unsophisticated investor with a conflict of interest wants to put in the first $10k but not set a price. In that case, a default conversion might make sense as an option.
I know YC has seen MFN usage in the "everyone gets $100k" scenario, but I also could see them useful for family and friends rounds where an unsophisticated investor with a conflict of interest wants to put in the first $10k but not set a price. In that case, a default conversion might make sense as an option.