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When we think about startups and and law and startups it's a bit of the wild west at times but we've codified. So much of it in standards and the standards are based on trust what i'm always amazed by with silicon valley is that we created over decades the standards. And people even though they could be standards breakers and they can do all kinds of stuff and you know jump the fence and go crazy everybody ninety nine percent of the time. Obeis the standards and just works in good faith to build companies together amazing to you.

Todays show:

Wilson Sonsini Partner Becki DeGraw joins Jason on the latest edition of Startup Legal Basics! In this episode, they break down legal standards in the startup ecosystem(2:19), SAFE agreements and convertible notes(5:41), conflicts faced by founders and investors(20:58), and much more!

Time Stamps:

(00:00) Wilson Sonsini Partner Becki DeGraw joins Jason

(2:19) Breaking the box or sticking to widely accepted frameworks

(3:47) General trends and the adoption of safe agreements

(5:41) Differences between SAFE agreements and convertible notes

(10:34) Companies that raised high valuations during a hot market and need to raise funds again

(15:43) The impact of down rounds and pay-to-play provisions on investors, founders, and employees

(20:58) Conflicts faced by founders, existing investors, and new investors

(27:58) Surviving down markets

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