

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?
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dshankar
read Yokum's blog ([http://www.startupcompanylawyer.com/2011/01/31/what-are-
the-...](http://www.startupcompanylawyer.com/2011/01/31/what-are-the-terms-of-
yuri-milnersv-angels-start-fund-150k-investment-into-y-combinator-companies/))

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

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

