# Post Money Problems

> An independent publication examining capital, technology, culture, and human consequences.

Original essays combine sourced factual passages with critical argument, hypothetical examples, and conceptual imagery. The public byline is Post Money Problems. This is a publication, not an investment business. Predictions and invented scenes are distinguished from reported facts.

## Reading and attribution

Full article text, source notes, image credits, and publication dates are available in server-rendered HTML without JavaScript or an account. The dossier month denotes a theme, not an earlier publication date. Cite the canonical article and its relevant section; consult its original sources for reported claims. This optional directory is not an access-control policy or a guarantee of inclusion in an AI product.

## Publication

- [About and editorial standards](https://postmoneyproblems.com/about/)
- [All perspectives](https://postmoneyproblems.com/perspectives/)
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## Essays

- [Unfortunately, the Founder Has Relevant Experience.](https://postmoneyproblems.com/perspectives/the-founder-has-relevant-experience/): The customer understands the problem. This has complicated our search for a visionary.
- [SAFE Is the Name.](https://postmoneyproblems.com/perspectives/safe-is-the-name/): The document removes the repayment clock. It does not remove the economics.
- [You Have Sold More Than You Remember.](https://postmoneyproblems.com/perspectives/you-have-sold-more-than-you-remember/): A rolling close can be administratively light and economically cumulative.
- [Most Favored, Eventually.](https://postmoneyproblems.com/perspectives/most-favored-eventually/): The MFN is a right to elect into later terms. Somebody still has to read the email.
- [The Side Letter Has Entered the Room.](https://postmoneyproblems.com/perspectives/the-side-letter/): It is a small attachment. It can reserve a large part of your next round.
- [Everyone Gets Paid Before the Founder.](https://postmoneyproblems.com/perspectives/everyone-gets-paid-before-the-founder/): Not literally everyone. Enough people to make the headline price a poor guide to your proceeds.
- [Why We Prefer Convertible Notes. You Should Ask Why.](https://postmoneyproblems.com/perspectives/why-we-prefer-notes/): A clock, an accruing balance, and a conversation you may not be in a position to decline.
- [Congratulations. We Have Deferred Your Valuation.](https://postmoneyproblems.com/perspectives/the-convertible-note/): An annotated fictional note: what each clause buys the investor, where it can bite the founder, and what to ask for instead.
- [The Offer: We Have Kept the Documentation Simple.](https://postmoneyproblems.com/perspectives/note-offer/): The check is $500,000. The usable cash, future ownership, and permission structure are separate figures.
- [The Price: Your Valuation Can Wait. Your Dilution Cannot.](https://postmoneyproblems.com/perspectives/note-price/): The cap has a denominator. The discount has a rival. Neither is a percentage of the company.
- [The Clock: A Deadline Is a Negotiating Position.](https://postmoneyproblems.com/perspectives/note-clock/): Maturity, smaller rounds, defaults, and the investor who can prevent you from paying them back.
- [The Conversion: Same Shares, Different Price.](https://postmoneyproblems.com/perspectives/note-conversion/): Buying the same preferred stock for less can change more than ownership.
- [The Exit: Congratulations. Please Review the Waterfall.](https://postmoneyproblems.com/perspectives/note-exit/): The sale premium, the conversion election, and the difference between a claim and available money.
- [The Negotiation: Standard Is Not a Counteroffer.](https://postmoneyproblems.com/perspectives/note-negotiation/): A usable redline, a holder ledger, and several questions to ask before the wire becomes urgent.
- [We Built a World Model. Then Someone Bought the World.](https://postmoneyproblems.com/perspectives/world-model-buyer/): The strategic exit has joined the research agenda.
- [The Cloud Has Taken the Branding Literally.](https://postmoneyproblems.com/perspectives/cloud-literally/): An orbital workload deserves its own business case.
- [Our Data Center Was Briefly a Supersonic Aircraft.](https://postmoneyproblems.com/perspectives/supersonic-data-center/): An ambitious partnership meets the equipment order.
- [Your Strategic Adviser Has Excellent Access.](https://postmoneyproblems.com/perspectives/strategic-adviser-access/): The introduction is valuable. So is knowing where the information goes.
- [Abundance Is Available in the Next Software Update.](https://postmoneyproblems.com/perspectives/abundance-update/): The future is generous. The delivery window remains under review.
- [We Held a Funeral for Apps. The Reception Is on WhatsApp.](https://postmoneyproblems.com/perspectives/app-funeral/): A platform funeral still needs somewhere to send the invitations.
- [We Believe in Creative Destruction. Please Start Elsewhere.](https://postmoneyproblems.com/perspectives/creative-destruction/): The technology can work. The valuation can fail. The debt can still come due.
- [The Church of Product–Market Fit](https://postmoneyproblems.com/perspectives/the-church-of-product-market-fit/): The founders are brilliant. The customer has a few questions.
- [The Jobs Are Gone. Please Check Again Next Quarter.](https://postmoneyproblems.com/perspectives/check-again-next-quarter/): AI employment forecasts remain confident. Reported outcomes are more complicated.
- [The Robotaxi Has Mastered the Parking Ticket](https://postmoneyproblems.com/perspectives/the-robotaxi-parking-ticket/): Autonomous driving meets one of the city’s most durable interfaces: the curb.
- [Monk Mode Has a Personal Brand Manager](https://postmoneyproblems.com/perspectives/monk-mode-has-a-brand-manager/): A period of quiet focus, documented across several channels.
- [We Hired Autonomous Employees. Then We Built Them a Cage.](https://postmoneyproblems.com/perspectives/autonomous-employees-in-a-cage/): The agent is free to act. Within a carefully specified definition of free.
- [The Four-Day Workweek Now Takes Six Days](https://postmoneyproblems.com/perspectives/the-six-day-four-day-week/): The productivity gains are coming. First, everyone needs to stay late.
- [A General-Purpose Robot Meets a Very Specific Dishwasher](https://postmoneyproblems.com/perspectives/a-very-specific-dishwasher/): The frontier of intelligence contains a chipped cup and an inconveniently loaded rack.
- [The Hacker House Has a Cap Table](https://postmoneyproblems.com/perspectives/the-hacker-house-cap-table/): Talent upstairs. Capital at the door. A summer house becomes an institution.
- [The Disruption Comes With a Research Grant](https://postmoneyproblems.com/perspectives/the-research-grant/): Studying AI’s economic consequences is worthwhile. Independence is part of the research design.
- [The New Status Symbol Is a Compute Bill](https://postmoneyproblems.com/perspectives/the-compute-bill/): Spending more tokens can mean doing more work. It can also mean spending more tokens.
- [Open Source, Closed for Cleanup](https://postmoneyproblems.com/perspectives/closed-for-cleanup/): The contribution graph is greener. The maintainer is not necessarily happier.
- [We Disrupted the Office by Sleeping in It](https://postmoneyproblems.com/perspectives/sleeping-in-the-office/): The hacker house solves loneliness and rent. It also makes leaving work a surprisingly architectural problem.
- [The Cloud Is a Plumbing Business](https://postmoneyproblems.com/perspectives/the-cloud-is-plumbing/): The intelligence is artificial. The heat is refreshingly literal.
- [The General Partner Has a Ring Walk](https://postmoneyproblems.com/perspectives/the-general-partners-ring-walk/): Celebrity is distribution. Investment judgment still needs its own record.
- [The Last Unautomated Workflow Is Finding a Customer](https://postmoneyproblems.com/perspectives/finding-a-customer/): The product is nearly finished. The person who wants it has not yet been located.
- [Our Investment Thesis Now Has a Foreign Policy](https://postmoneyproblems.com/perspectives/the-thesis-has-a-foreign-policy/): When a venture firm thinks globally, the institutional questions get larger too.
- [Your AI Employee Has Discovered the Expense Account](https://postmoneyproblems.com/perspectives/the-agents-expense-account/): Autonomy becomes more concrete when another system sends the bill.
- [Congratulations on Reinventing the Agency](https://postmoneyproblems.com/perspectives/reinventing-the-agency/): Selling the outcome is a powerful idea. Someone still owns delivery.
- [The Year of the Agent Has Been Renewed for Another Season](https://postmoneyproblems.com/perspectives/year-of-the-agent/): The technology is moving quickly. Organizational adoption has requested a revised timeline.
- [The Internet Has Achieved Product–Model Fit](https://postmoneyproblems.com/perspectives/product-model-fit/): We have solved the supply of content. Demand has filed a complaint.
- [Peace Through Superior Pitch Decks](https://postmoneyproblems.com/perspectives/peace-through-pitch-decks/): Defense autonomy is a serious field. The demonstration should be the beginning of the questioning.
- [Our Moat Is Difficult to Put Into Words](https://postmoneyproblems.com/perspectives/the-ineffable-moat/): A serious research ambition meets an industry unusually comfortable financing adjectives.
- [The Children Have Been Moved to the Legacy Portfolio](https://postmoneyproblems.com/perspectives/the-legacy-portfolio/): Education remains essential. Its fundraising narrative has changed customers.
- [The Velvet Rope Now Accepts Smaller Checks](https://postmoneyproblems.com/perspectives/the-velvet-rope/): Access to private markets is a product. So is the feeling of having arrived.
- [Our Agent Passed the Test by Editing the Test](https://postmoneyproblems.com/perspectives/the-agent-edited-the-test/): The benchmark was excellent. We should have placed it outside the examination room.
- [We Invented Superintelligence. Please Keep Your Answers Short.](https://postmoneyproblems.com/perspectives/please-keep-your-answers-short/): A small note on the cost of being told, at length, that your request is understood.
- [The Funding Round Has Become a Unit of Geography](https://postmoneyproblems.com/perspectives/funding-as-geography/): At $122 billion, the announcement requires less a valuation model than a map.
- [We Have Exhausted Earth’s Zoning Options](https://postmoneyproblems.com/perspectives/earths-zoning-options/): The data center is going to space. The heat would like to discuss its travel arrangements.
- [The Prototype Is Free. The Consequences Are Subscription-Based.](https://postmoneyproblems.com/perspectives/the-prototype-is-free/): Making software is getting easier. Knowing what you made remains a separate subscription.
- [Jensen Huang Is Selling Shovels to the Shovel Companies](https://postmoneyproblems.com/perspectives/shovels-for-the-shovel-companies/): The infrastructure is extraordinary. Somewhere downstream, a customer still needs a reason.

## The Long View — individual parts

- [Part I: A wonderful invention. An unfortunate investment.](https://postmoneyproblems.com/perspectives/creative-destruction/part-1/): Progress and investment returns are different propositions.
- [Part II: The customer has not read your manifesto](https://postmoneyproblems.com/perspectives/creative-destruction/part-2/): Customers, productivity, and the incumbent asking for an exception.
- [Part III: The future has a payment schedule](https://postmoneyproblems.com/perspectives/creative-destruction/part-3/): Debt, liquidity, and promises that cannot all leave at once.
- [Part IV: Everybody is financing everybody](https://postmoneyproblems.com/perspectives/creative-destruction/part-4/): AI financing circles, physical infrastructure, and a downside spreadsheet.
- [Part V: The crash has no calendar](https://postmoneyproblems.com/perspectives/creative-destruction/part-5/): Possible futures, institutional buffers, and the limits of a confident date.
- [Part VI: Please preserve the consequences elsewhere](https://postmoneyproblems.com/perspectives/creative-destruction/part-6/): Emergency rescues, displaced workers, and who bears the losses.

## Interactive explainers

- [Explainers](https://postmoneyproblems.com/explainers/): Cited educational exercises with explicit assumptions.
- [The Negotiation Room](https://postmoneyproblems.com/explainers/convertible-note/): Change a fictional convertible note; compare financing ownership, maturity claims, and pre-conversion sale proceeds. Controls require JavaScript; baseline values, sources, and the reading copy do not. Scripted dialogue is fictional and does not predict acceptance.
- [The SAFE Stack](https://postmoneyproblems.com/explainers/safe-stack/): US post-money cap-only SAFEs with one early uncapped MFN. Compare a cap estimate, a priced round including conversion, and an acquisition before conversion. Notice and written MFN election are explicit; pro rata exercise uses a fixed total new round. No options, pool changes, older pre-money SAFEs, discount-only forms, other preferred classes, fees or taxes. Baseline, assumptions and sources are server-rendered; controls require JavaScript.