United States: Venture Capital

The Y Combinator SAFE was designed for pre-seed companies with simple cap tables, but what happens when investors are asked to use this standard form after a priced round has already closed? This analysis reveals why the instrument's design assumptions quietly break down in post-seed contexts, creating ambiguities that translate into litigation risk and economic leakage for both investors and companies.

The Small Business Innovation and Economic Security Act of 2026 introduces significant changes to the SBIR and STTR programs, including a new strategic breakthrough award category worth up to $30 million, enhanced national security screening requirements, and agency-specific proposal submission limits.

Yesterday evening, the California Department of Financial Protection and Innovation (DFPI) announced that it is suspending the implementation and enforcement of the Fair Investment Practices...