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)
Some Thoughts On Convertible Debt – AVC

It used to be that convertible debt was a lot easier and cheaper to do legally. But with non-negotiated “light Series A docs” from most top venture law firms out there, you can do a Series A Preferred for less than $5000. And these light Series A documents focus on economics not control and governance, just like converts do. So to me that is not a valid argument for doing convertible debt anymore.