Convertible notes, in smaller amounts and in sequential offerings just make so much sense if you combine them with customer development and lean startup strategies.

It's simple, fast and allows investors to measure their risk.

I believe it's good for the startup as well because it really keeps you focused on what's important to most startups - finding product/market fit.

If you don't have "extra" money you don't go off on tangents and you stay focused on finding the customer that will pay for your product or service.

The faster you find this, the faster your value goes up and the cheaper the next round of capital is.