Raising a SAFE or Convertible Note between rounds

Great overview of the real impact to the cap table after a SAFE or Convertible Note happens from Fred Wilson. Having seen this first hand it is a tough situation for any founder to be in. The reality is that a financing to keep the company capitalized can mean the difference between success or failure but the impact of such a decision isn't really felt until the next equity round.

https://avc.com/2019/02/raising-a-safe-or-convertible-note-in-between-rounds/