Ask HN: Can someone explain the Yuri/Conway-YC Deal?

7 pointsHackrNwsDesignr3 comments

I understand that startups are being offered lots of money, but they said it was on really good terms. Can anyone explain the terms?

apparently it's $150k per startup in a convertible note with no dividend and no cap... sweet deal for any entrepreneur....

can you explain 'convertible note' and 'no dividend' 'no cap'