(00:00) Wilson Sonsini Partner Becki DeGraw joins Jason (2:19) Breaking the box or sticking to widely accepted frameworks (3:47) General trends and the adoption of safe agreements (5:41) Differences between SAFE agreements and convertible notes (10:34) Companies that raised high valuations during a hot market and need to raise funds again (15:43) The impact of down rounds and pay-to-play provisions on investors, founders, and employees (20:58) Conflicts faced by founders, existing investors, and new investors (27:58) Surviving down markets Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp Check out Wilson Sonsini: https://www.wsgr.com/ FOLLOW Jason: https://linktr.ee/calacanis Listen here: Apple: https://podcasts.apple.com/us/podcast/this-week-in-startups-audio/id315114957 Spotify: https://open.spotify.com/show/6ULQ0ewYf5zmsDgBchlkr9 Overcast: https://overcast.fm/itunes315114957/this-week-in-startups-audio More from us: Twitter: https://twitter.com/twistartups Instagram: https://www.instagram.com/thisweekinstartups Official site: https://thisweekinstartups.com/ Subscribe to our YouTube to watch all full episodes: https://www.youtube.com/channel/UCkkhmBWfS7pILYIk0izkc3A Subscribe to TWiST Clips for all the best moments: https://www.youtube.com/channel/UCS7tJlcUA6PzVHEMo-X7ddg #startups #entrepreneurship #investing #angelinvesting #tech #news #business