[scottnyc]

I really like this. However, I don't see anything regarding the terms and valuation which I would invest at. How can one responsibly invest without know what my $1000 actually gets me?

If the process is that the valuation will be set once funds are raised and I will have the option to back out at that point - then this needs to be spelled out. Some clarity here is needed.

[npt4279]

You're right; we should do a better job of communicating this. Right now, you have to click on the invest button to see the terms, and to further complicate things, many of the startups use the YC VC Fund Note, which delays the setting of the valuation.