cap table

Kirsty Nathoo explains how SAFEs work, how they differ from convertible debt, and what founders should understand in their terms and conversion mechanics. She shows how post-money SAFEs make it easier to estimate ownership sold, then walks through dilution as a company hires employees, expands its option pool, and raises a priced Series A. The examples illustrate how SAFE conversion, option-pool increases, and new investment change ownership percentages. She closes with practical advice: track dilution, understand the documents, and avoid pushing valuation caps higher than necessary.

Carolynn Levy, Jon Levy, and Jason Kwon explain the legal steps involved in starting a company, from incorporating and issuing founder stock to setting up a board, keeping records, and handling taxes. They recommend keeping the company’s finances and documents organized, using vesting for founder shares, and filing an 83(b) election promptly after buying stock. They also discuss common problems such as unpaid workers, unclear intellectual property ownership, founder breakups, and promises of employee equity. The panel answers questions about incorporation services, fundraising, hiring across borders, and when to seek legal advice.