I've read the SAFE and don't think it makes sense, since the SAFE is clearly its own term sheet. But the advisor I think IS being lazy by not reading it, and just wants a summary for investors.
He is very senior and not amateurish, I think the issue is he does not like SAFEs (says they are not SEC-tested) and thus I think won't read them, and thinks any deal of any sort without a summary term sheet is not 'serious'.
He is very senior and not amateurish, I think the issue is he does not like SAFEs (says they are not SEC-tested) and thus I think won't read them, and thinks any deal of any sort without a summary term sheet is not 'serious'.
Thanks.