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A SEAL note grants investors a rev share while also giving equity if the co raises or sells This enables cash-generating cos to raise $ without all-or-nothing VC expectations. It's better for investors too Popularizing the SEAL could lead to many new cos
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1/ no revenue share, shared earnings = profit share (more or less). We only get paid when founders are taking meaningful $ out of the business 2/ very similar to a dividend, tho the obligation to investors is calculated differently. But it buys back (some) equity when paid
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