Jessica and I were talking about who in Silicon Valley has had the most effect in proportion to how well they're known, and we both picked the same person: Carolynn Levy.https://www.startupschool.org/videos/79
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She has twice rewritten the way startups are funded. She was the one who switched the Valley to convertible notes. Then, dissatisfied with notes, she single-handedly invented the SAFE.
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How many investors and founders use these docs without even realizing they're playing a game whose rules Carolynn invented, and that this is why (very much unlike 20 years ago) the mechanics of startup funding more or less work now?
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*Googles*
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@abhyu5u
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Can you tell us a little about how convertible notes and SAFE work? I thought that VC investments were straight equity positions the vast majority of the time.
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Preferred shares, of course. But things must have changed over the last 20 years.
End of conversation
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