Thoughts on Convertible Notes

There has been a lot of noise in the Valley lately about how most seed stage deals are now being done as convertible notes. In fact, PG from Y Combinator has proclaimed that that it is how things will be going forward. That might well be so, but I for one am not a fan of convertible notes. I may be well be in the minority in the Valley to think this way — especially so as a seed stage investor — but I have a strong preference for doing priced equity rounds for funding companies at any stage.

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