So what happens to the $375k if you don't raise after YC?
Let's say you exit 1 year after YC at a $5m valuation
With the MFN, does that mean that YC get 28% of the sale instead of the initial 7%?
Let's say you exit 1 year after YC at a $5m valuation
With the MFN, does that mean that YC get 28% of the sale instead of the initial 7%?
My understanding is that the valuation is not meaningful on an uncapped SAFE where there's no subsequent round. So 7% equity is what they have regardless of a $5M valuation as determined by... who?