I’ve been asked for opinions on convertible notes in seed rounds consistently for the past 10+ years. I’m going to just say it again. I am NOT a fan of convertible notes in seed rounds — I will always defer to founders wishes — but I strongly prefer to avoid convertible notes in seed rounds. The reasons are many and varied — Fred Wilson articulates them very clearly in his post here. I strongly agree with Fred and believe that it’s time for entrepreneurs to start with default of a priced round.
Originally published at koablog.wordpress.com on March 12, 2017.