Too Long; Didn't Read
<em>There seem to be 2 reasons to do a </em><a href="https://hackernoon.com/tagged/convertible" target="_blank"><em>convertible</em></a><em>. First, low legal cost. Fine. Second, your valuation is postponed till the next round. Wait, what? Why would you want to postpone your valuation? Don’t you want to know how many shares you have to give away? Don’t you want to compare issuing equity against doing a convertible?</em>