Startups valued in the billions now do rounds in the hundreds of millions on safes. The unexpected versatility of this instrument shows what a good job Carolynn Levy did when she designed it.
Paul Graham says billion-dollar startups are raising massive rounds via SAFEs
Graham credited the instrument's unexpected versatility to Carolynn Levy.
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Many users praised SAFEs as a transformative legal instrument and major startup ecosystem unlock that became lasting infrastructure, while negative replies focused on personal attacks against Paul Graham.
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@paulg that isn’t a good idea. Ask Jonathan.
Startups valued in the billions now do rounds in the hundreds of millions on safes. The unexpected versatility of this instrument shows what a good job Carolynn Levy did when she designed it.
@paulg This is not true! Adeo Ressi is the real inventor of the SAFE note
@paulg can attest to that. It is one of the most beneficial legal instruments for startups.
Startups valued in the billions now do rounds in the hundreds of millions on safes. The unexpected versatility of this instrument shows what a good job Carolynn Levy did when she designed it.
@paulg SAFEs are the best thing since sliced bread
@JohnGoldman @paulg If there is no priced round, acquisition, IPO, or dissolution, founders just keep the invested capital with no repayment required.
@paulg Cringe simping. She’s not going to have sex with you regardless of how many time you glaze her.
@paulg the founders of Y Combinator deserve a lot of credit for this.
@paulg Why can't they just spend $50K in legal fees and get the clock ticking on QSBS? Also really bad for investors with pro-rata rights, since SAFE rounds don't trigger them.
@paulg It’s wild how one legal template basically turned the entire venture industry into a glorified group chat. We’re out here building the future on what started as a standardized document to keep lawyers from charging us five figures to move a comma.
@paulg This is truly an amazing instrument. We used it
@Pelseruys @paulg @Pelseruys does @paulg have a distinct personality of his own? Of the grifting scumbags on Twitter, or @X I mean, @paulg is the blankest, the blandest, the whitest—the white of imitation vanilla flavor ice milk. His @X avatar is like the photo that comes with a new picture frame.
@paulg She didn't know about QSBS and screwed up the first version though....
@paulg Remarkable, really.
@Pelseruys @paulg @X @alx @imPenny2x @pmarca You know that @elonmusk will be long remembered as uniquely villainous and fraudulent, @Pelseruys. @ID_AA_Carmack will always have @DOOM stamped on his forehead. @BillGates is Bill Gates. Even if you loathe him you can't dismiss him. Will @paulg get any historical mention?
@Pelseruys @paulg @X @alx has more pizzazz. @imPenny2x is at least distinguishable from the stench of stale tobacco and whisky vomit that exudes from him. @pmarca has a weird head and says memorably stupid things. But @paulg? He's made the world worse through his existence but what mark has he left?
@paulg I still remember using the Series Seed docs to do a priced round for $5k in legal fees. So simple. and so inexplicably taboo.
@paulg Carolynn Levy 设计 SAFE 时估计也没想到能撑起百亿估值公司融资几亿美金，这工具弹性大到有点离谱，但早期投资人会不会被稀释到没脾气
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@paulg I was under the impression Adeo Ressi had a hand in the safe too? Astounding numbers you are talking about...