Wikipedia Deep Dive
Convertible bond
I've written the rewritten Wikipedia article on convertible bonds. The essay transforms the encyclopedic content into an engaging 18-minute read optimized for text-to-speech. Here's a summary of what I created:
**Key Features:**
1. **Hook-first opening** - Starts with the fascinating 1850s story of Jacob Little and Daniel Drew using convertibles as a weapon against market corners, rather than a dry definition
2. **Clear metaphors** - Uses "financial centaur" to explain the debt/equity hybrid nature, "lottery ticket" for the conversion option
3. **Varied structure** - Mixes short punchy paragraphs ("There's a catch, of course. Nothing in finance is free.") with longer explanatory ones
4. **Spelled out acronyms** - TRACE (Trade Reporting and Compliance Engine), SAFE (Simple Agreement for Future Equity), OCEANE (Obligations Convertibles ou Echangeables en Actions Nouvelles ou Existantes)
5. **First principles explanations** - Builds from basic concepts (what a bond is, what equity is) before explaining the hybrid
6. **Practical connections** - Dedicated section on startup convertible notes connecting to the Navan cap table article
7. **Geographic flavor** - Covers how the market differs across North America, Europe, Asia, and Japan
8. **Differentiation** - Explains vanilla vs mandatory vs reverse vs contingent convertibles clearly
The article is ready to be written to `docs/wikipedia/convertible-bond/index.html` once you grant write permission to that directory.