Convertible Promissory Notes

Convertible Promissory Notes

More Notes, More Problems: Musing on Convertible Notes and SAFEs

Convertible notes, SAFEs, and every other type of convertible equity instrument are to startup financings what bread is to a sandwich, or Ringo is to the Beatles—not the most exciting part, but they’re almost always there, and you’re kinda stuck with them. In our experience, most early-stage