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Every month, and whenever a new SAFE, note, or option grant is signed, Sai updates your cap table from the documents themselves and republishes a dilution calculator — so the sliders start from what you actually own today.
Most founders can tell you their ownership percentage, and most of them are wrong by a few points. Not because the maths is hard, but because the number in their head was computed before the last two SAFEs, before the senior hire's grant, and before anyone did the option pool top-up the next lead will ask for. A dilution calculator is only as good as the cap table you feed it, and the cap table is the thing that quietly goes stale between rounds.
Once a month, and whenever a new document is signed, Sai reads the signed SAFEs, notes, and grants in your equity folder, adds anything new to your cap table with a link to the source PDF, and republishes an interactive dilution model. The model opens in a browser: sliders for the next round's valuation, raise, and pool size, with an ownership chart that moves as you drag them. The starting point is always the real cap table as of today, not a set of numbers typed into a blank form.
Most dilution surprises come from treating every SAFE the same way. They are not.
One page: today's fully diluted cap table by holder, a pie chart of current ownership, and a second chart for the post-round picture that updates live. Founder ownership sits above both as a single number, because that is the one you will be asked about. A changes section lists what was added since the previous month, so the jump between two versions is explained rather than mysterious.
Documents already on the cap table are skipped, so only new signatures are read. Every row keeps a link to the PDF it came from, which means any number in the model can be traced to a document in one click. A term the document does not state clearly is marked Needs review instead of being filled in with a typical value — a cap table with an honest gap is safer than one with a plausible guess. Each month's model stays at its own link, so you can see exactly what the table looked like before a given round.
Ownership is one half of the founder's monthly view; the operating half — ARR, retention, runway, and risk — is the weekly executive briefing deck. For the mechanics of the standard instrument, Y Combinator's SAFE documents and user guide are the reference most modern cap tables follow. This model does not replace counsel or your cap table system; it makes sure you walk into the conversation with the right numbers.