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Safes are not bad for entrepreneurs


YCombinator, June 2017: "Pascal Levensohn and Andrew Krowne recently published an article: “Why Safe Notes are not safe for entrepreneurs.” The authors were critical of the safe, describing it (as the click-bait title suggests), as bad for entrepreneurs. But the authors make an important point –- which was clarified by Levensohn in a follow-up post — with which we don’t disagree: both investors and entrepreneurs need to understand the way that convertible securities convert, and they need to understand dilution.

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