bijan sabet: Who else is investing in this round? →
Paul Graham just wrote a very interesting post on why YC startups are seeing more and more convertible notes instead of straight equity financing where the valuation is set up front.
First to be crystal clear, I’m a big fan of Paul and Jessica and the program they built. I use YC portfolio…
i’m glad bijan wrote this post, because he’s touched on the part of paul graham’s latest essay i find most befuddling: do venture capitalists really not have, or attempt to have, their own opinions about investment opportunities? for what other type of investor is this true, if any? how is such an investment thesis sustainable? admittedly i’m new to this game, but this position makes so little sense to me.
