More Bun than Beef: The Equity vs Non-Equity Debate

When we talk about early stage funding, the “Equity vs Non-Equity” debate comes fully loaded: choose once, choose wisely. This manufactured conflict is a false binary. Nearly all companies use multiple kinds of capital across time. Why then do we still depict capital strategy as a high noon duel, with choices bearing down on us from the barrel of a gun? Because investors benefit more from tension than from truth.