What’s the best way to raise in convertible notes or in your priced equity round?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Convertible Debt – AVC

When you set the price, both sides know what deal they got. It’s locked in and they are in business together and aligned. The entrepreneur can’t get screwed later when the price drops on them. And the investors can’t get screwed later when the price jumps on them. This is a big deal. I don’t understand why folks don’t understand it.