I'm glad YC is leading the charge to standardize and make sane very early stage funding terms. They've got market, brand, and brain power that is impossible for individual companies to match.
The next thing I'd like to see out of YC legal is some sort of over-subscription pre-sale. Something like a combined participation right/"first right of refusal"/put option that companies can sell to investors when they are hot to guarantee their future access to funds.
The next thing I'd like to see out of YC legal is some sort of over-subscription pre-sale. Something like a combined participation right/"first right of refusal"/put option that companies can sell to investors when they are hot to guarantee their future access to funds.