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What is the fundamental difference between convertible debt and a SAFE?

a) They practically function in a similar way, but convertible debt is a legal debt vehicle and the debt can be "called".

b) SAFES are fundamentally safer than convertible debt for the investor.

c) SAFES (Simple Agreements of Foreign Equity) are most often utilized for global or cross-border investments because they reduce risk associated with different international law.

d) Convertible debt is preferable because it converts to equity so has more favorable upside to the investor.