Dearing: Convertible debt seed market is terribly toxic and undisciplined
Michael Dearing · 20VC: Michael Dearing on 5 Key Principles He Uses To Assess Startup Founders, Why Benevolent Dictatorship Is A Beautiful Thing & Why Markets Are Better Capital Allocators Than CEOs · Oct 9, 2017 · at 14:50
Michael Dearing, founder of seed fund Harrison Metal, criticizes the proliferation of convertible debt and SAFE notes driven by angel capital.
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“On the convertible debt side of the market, I think it's terribly toxic and about as undisciplined as it could possibly be.”
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