Uncapped Note
topic on 1 show · 5 statements across 5 episodes
5 statements about Uncapped Note, every show
Frankel: Uncapped Convertible Notes Suck at the Seed Stage
“I mean, the scale of how much you have to win, right, is different based on your price. It's pure math. So, uncapped notes suck at the seed stage.”
Frankel: First Round Capital offered uncapped checks to top portfolio companies
“Josh Koppenman, I remember him saying to me, I'll give you two million dollars uncapped note ahead of the next round. A lot of this was in his portfolio already, where he went, like, what's the quadrant that's really killing it? What first round used to do is,…”
Lewis: Deploying capital via uncapped notes is not real investing
“Uncapped notes aren't actually investing. That's why I hate them. Investing is You know, you should know the price you're paying. That's what an investment is. It's not an investment if you don't know what the price you're paying is for the security.”
Naval Ravikant: Investors cannot make money on uncapped convertible notes
“So, for example, some entrepreneurs have gotten very good at raising uncapped notes, but you can't make money on that.”