[bstrong]

I generally try to be encouraging of people putting themselves out there to create something new, but I'm worried that you're creating a pretty serious moral hazard for the founders you're trying to help.

It's the kind of situation that can lead well-intentioned people to make bad decisions.

[vkorshin]

This is simply a tool to help founders get access to non-dilutive growth options, since right now they have very few alternatives at the earliest stages. We start with a safe amount of leverage and increase it as loan performance becomes predictable.