When I first read Paul Graham’s blog post on “High Resolution” Financing I read it as a treatise arguing that convertible notes are better than equity. As I’m generally a believer in ‘pricing rounds’ I initially didn’t agree with the premise of the post.
I just re-read it and on second reflection, I’m surprised just how much I found myself in near TOTAL agreement with Paul. Having re-read it, I believe his real premise instead is, “Fixed-size, multi-investor angel rounds are such a bad idea for startups that one wonders why things were ever done that way.”
To read the full, original article click on this link: Revisiting Paul Graham’s “High Resolution” Financing | Both Sides of the Table
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