Great discussion.

Also a great link to Mark Suster's critique of convertible notes. I think the below link should be required reading for anyone who wants to use the SAFE documents for fund raising.

I think there is a tendency to think if its good enough for Y Combinator then its good enough for me. Mark points out the numerous ways a convertible note can get you ni trouble. Atleast by reading it, you'll be going in with your eye's open.

http://www.bothsidesofthetable.com/2014/09/17/bad-notes-on-v...