Is It Important To Understand Convertible Debt Terms?

Recently, several entrepreneurs and investors have asserted to me that they don’t think the terms on a convertible debt deal matter much. I was perplexed by the statement and asked each of them to tell me more. In every case, the person hadn’t really thought through the issues. Rather, they were just spouting what they believed was conventional wisdom about terms for seed deals.

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Convertible Debt – Valuation Caps

Today, in our series on convertible debt, we examine the conversion valuation cap.

The cap is an investor-favorable term that puts a ceiling on the conversion price of the debt. The valuation cap is typically only seen in seed rounds where the investors are concerned that the next round of financing will be at a price that is at a valuation that wouldn’t reward them appropriately for taking a risk by investing early in the seed round.

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Complex Electronic Banking Fraud in Malaysia

The interesting thing about this attack is how it abuses a variety of different security systems.

Investigations revealed that the syndicate members had managed to retrieve personal particulars including the usernames, passwords from an online banking kiosk at a bank in Petaling Jaya and even obtained the transaction authorisation code (TAC) which is sent out by the bank to the registered handphones of online banking users to execute cash transfers from their victims’ accounts.

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Vending machine dispenses freshly-baked baguettes


Vending machines are usually associated with long-life and processed packaged foods, to be conveniently purchased at any time. However, an entrepreneurial French baker recently rolled out 24-hour automated baguette dispensers next to his two bakeries in Paris and Hombourg-Haut, which ensure he can sell his baguettes even after his shops have closed.

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Links: 9-19-2011

  • Bada Bing, Bada Boom « The World As Best As I Remember It
    Quote: "People look out for themselves when there’s nothing to look forward to. I often tell managers to analyze the efficacy of their own leadership if members of their team start asking about career-related topics all the time. Most people, at least most engineers, tend to resort to career last. Engineers mostly want to work on something they believe in, to be part of something that will change the world. When things are going right, career tends to be a side-effect of participating fruitfully in a meaningful project."
    (categories: culture business inspiration career microsoft )

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Faces, an experiment in real-time face substation. Pretty…

At Patheos: TF: Amanda Hugginkiss

Fred Clark has posted a new Left Behind post, TF: Amanda Hugginkiss, at Patheos

This week Fred writes about pp. 407-413 of Tribulation Force.


Even when such ordinary-seeming people turn out to have extraordinary powers or resources — like Buffy or Peter Parker or Harry Potter — the virtues that ultimately enable them to succeed, to become heroes, are virtues accessible to any ordinary reader. Magic or super powers aren’t in themselves enough — heroism requires pluck, quick thinking and, above all, courage.

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Carving Manhattan

As seen in The Architect’s Newspaper, Yutaka Sone’s carved marble model of Manhattan on display at David Zwirner gallery in Chelsea…:

[Marble model of Manhattan by Yutaka Sone | image source]

…is reminiscent of John Stoney’s “Cross Section of the North American Continental Plate” from 2006 (I saw it exhibited at Caren Golden Fine Art in 2007), made from a 1-inch thick plank of pine above a 5-foot-tall base of polymerized gypsum:

[Cross Section of the North American Continental Plate (2000-06) by John Stoney | image source]

Sone’s marble model is about twice as long in plan as Stone’s wood model (approx. 21 x 104 x 33″ versus 21 x 65 x 67″), but each artist chose carving as their means of expressing the same subject. Besides the unique appearance of each sculpture, owing to the different materials, the biggest difference might be the respective absence and presence of the Twin Towers in Sone and Stone’s impressive accomplishments.

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NASA Offers Space Shuttle Artifacts to Schools

Manned space flights may be a thing of the past, but NASA's keeping our galactic history alive by making artifacts from the shuttles available to educational institutions. Through the "Tiles for Teachers" and "Space Food For Schools" programs, K-12 schools and universities can request dehydrated space food packets and space shuttle tiles from actual space shuttle missions.

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Why Netflix is splitting itself in two

This is brutal; and brilliant. (thanks Eric)


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