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Navigating SAFEs, Pay-to-Play Rounds & Risks with Becki DeGraw | Wilson Sonsini Startup Legal Basics
This Week in Startups
How to Define Pay to Play
The idea is you have to pay by participating to play to continue to be a preferred stockholder and keep all of the rights, all the bells and whistles that you have. So who becomes the drivers of this practically speaking does counsel pull aside a founder and say listen here are your options? Or yes yeah so when this happens a founder drives it typically the new investor drives it the board drives it would be against the board's best interest if they don't want to put more money up.
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