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I think that doing this is risky and precisely what people should try to avoid if they could. The reason is because the devil is in the details: i.e. adopting a stock plan at incorporation and prior to a SAFE means the founders eat the dilution. I wouldn’t have known without our attorney.

If people are trying to save cash, I’d say a compromise is start with a template but then run it by your attorney. Otherwise, you’re playing with fire.

Walk away and find higher quality people to build with. Ideas are worthless, startups are all about co-founders.