No - SAFE (Simple Agree for Future Equity) and KISS (Keep it Simple Security) docs are attractive options.
SAFE docs are short 5 page documents with very little to negotiate (just the valuation caps). Therefore, startups and investors won’t have to spend a lot of time and legal fees on hammering out the details of a safe. A SAFE is not a debt instrument, so it doesn’t accrue interest or have a maturity date (so it might not convert to equity at all). SAFEs are also only about 2 years old, created by Y Combinator in Dec. 2013. Accordingly, angel investors, VC’s and attorneys often have less experience and trust in using a SAFE over something more established, like a convertible note.
A KISS is similar to a SAFE in that they both are short and sweet funding documents created in order to make things easier for both sides. They are designed to be flexible, simple, and balanced from both the standpoint of the company and investor. There are two types of KISS agreements: a debt version and an equity version. A KISS is known as being more investor friendly than a SAFE, which is known for being more founder friendly.