YC CFO Kirsty Nathoo explains SAFEs versus priced rounds with worked cap table examples, showing exactly how caps, discounts, and stacking SAFEs dilute founders.
The definitive explainer on the instrument most seed rounds actually use, from its home institution.
This video was created by Y Combinator and features Kirsty Nathoo. We summarize and link with attribution; all rights belong to the creator.
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