July 20, 2023
Navigating SAFEs, Pay-to-Play Rounds & Risks with Becki DeGraw | Wilson Sonsini Startup Legal Basics
This Week in StartupsAbout this episode
Todays show: Wilson Sonsini Partner Becki DeGraw joins Jason on the latest edition of Startup Legal Basics! In this episode, they break down legal standards in the startup ecosystem(2:19), SAFE agreements and convertible notes(5:41), conflicts faced by founders and investors(20:58), and much more! Time Stamps: (00:00) Wilson Sonsini Partner Becki DeGraw joins Jason (2:19) Breaking the box or sticking to widely accepted frameworks (3:47) General trends and the adoption of safe agreements (5:41) Differences between SAFE agreements and convertible notes (10:34) Companies that raised high valuations during a hot market and need to raise funds again (15:43) The impact of down rounds and pay-to-play provisions on investors, founders, and employees (20:58) Conflicts faced by founders, existing investors, and new investors (27:58) Surviving down markets * Check Out Wilson Sonsini: https://www.wsgr.com/en/ * Read LAUNCH Fund 4 Deal Memo : https://www.launch.co/four Apply for Funding : https://www.launch.co/apply Buy ANGEL : https://www.angelthebook.com Great recent interviews: Steve Huffman , Brian Chesky , Aaron Levie , Sophia Amoruso , Reid Hoffman , Frank Slootman , Billy McFarland , PrayingForExits , Jenny Lefcourt Check out Jason’s suite of newsletters: https://substack.com/@calacanis * Follow Jason: Twitter: https://twitter.com/jason Instagram: https://www.instagram.com/jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis * Follow TWiST: Substack: https://twistartups.substack.com Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin * Subscribe to the Founder University Podcast: https://www.founder.university/podcast