Ask HN: Can someone explain the Yuri/Conway-YC Deal?

[HackrNwsDesignr]

I understand that startups are being offered lots of money, but they said it was on really good terms. Can anyone explain the terms?

[dshankar]

read Yokum's blog (http://www.startupcompanylawyer.com/2011/01/31/what-are-the-...)

[davidblerner]

apparently it's $150k per startup in a convertible note with no dividend and no cap... sweet deal for any entrepreneur....

[HackrNwsDesignr]

can you explain 'convertible note' and 'no dividend' 'no cap'