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In response to this TechCrunch post on the Y Combinator equity docs, I left this comment:
A few notes:
1. Seed-stage deals that first sell equity aren’t doing themselves any favors. We work hard to always do fair convertible debt, which is much cheaper from a legal perspective, much more founder friendly, and preserves stealth mode per the Form D problems Josh Kopelman highlights.
2. I’ve posted our note form on Lookery’s blog: Download Word Doc

@humphrey
– Seed stage deals don’t need much if any custom lawyering unless either the founders or the investors are attempting to assert unreasonable control or take financial advantage.
– We start with the NVCA docs when equity deals are appropriate, but the Y Comb docs will be more popular. Your average founder has a lot more trust in the Y Comb brand than the NVCA. WSGR making Y Comb take their docs down reinforces these sorts of perceptions.

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