Odds and Ends 

Why SAFE notes are not safe for entrepreneurs

Andrew Krowne Contributor Andrew Krowne is a principal at Levensohn Venture Partners and Dolby Family Ventures. The shortcomings ofSAFE notes(simple agreement for future equity)are coming home to roost; ironically, entrepreneurs are paying the price. Y Combinator invented the notes with a noble goal: we intend the SAFE to remain fair to both investors and founders. But many SAFE notes that entrepreneurs are quick to issue now have a nasty bite: much more dilution than the issuers thought when they signed those documents. Since the SAFE was created in 2013, many…

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