This might be besides the point, but isn't it strange for a company to issue ~25,000 shares total? More to the point, it seems like this (and almost all) crypto companies will rise and fall based on the price of crypto. You might be better off just buying a few bitcoin with your money.
Ask HN: Company is firing all employees – should I still exercise my options?
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Re: Ask HN: Company is firing all employees – should I still exercise my options?
#32> - blockchain startup > - struggling to raise money > - tons of true potential Run.
don’t forget that they are also now mostly without staff.
Re: Ask HN: Company is firing all employees – should I still exercise my options?
#33Blockchain is a meme.
Re: Ask HN: Company is firing all employees – should I still exercise my options?
#34Blockchain has really cooled off. If the founders didn’t sell ETH at the peak their capital raised is now down 10x. This is the same reason a lot of ICO companies are shutting down.
I’d run away OR buy 50% just for fun.
Re: Ask HN: Company is firing all employees – should I still exercise my options?
#351. Setting the exercise window to 90 days instead of a more reasonable window (measured in years) should be a strong indicator that whoever is structuring their deals is not at all interested in the welfare of your equity.
2. You no longer have a seat in the company (much less at the deal table).
3. Their desperation will be apparent, and they will accept very bad terms in the round (firing your staff = no leverage).
Even if they manage to stay in business, your investment is unlikely to be worth anything. As someone else said, would you really want to invest in this company if not for your history? Why not put that $13k into another investment?
Re: Ask HN: Company is firing all employees – should I still exercise my options?
#36> About 2.5 months ago I left my executive position at a promising blockchain startup
And that's exactly where I stopped reading.
The simple answer is no. Run away. There's no such thing.
Re: Ask HN: Company is firing all employees – should I still exercise my options?
#37> - blockchain startup > - struggling to raise money > - tons of true potential Run.
But it is decentralized.
Re: Ask HN: Company is firing all employees – should I still exercise my options?
#38Your options will be diluted to practically nothing - the best case is that you get your money back. You're better off investing the traditional way.
Re: Ask HN: Company is firing all employees – should I still exercise my options?
#39are your hopes the company will sell to a larger business, and you will receive a large payout? sorry for the question, just don't know a huge amount about this stuff.
Yes, at this point I believe the company might sell the product or manage to raise sufficiently to rehire employees and exit at a later stage. In the first scenario the payout will not be as big, but it might still be significant.
I don't think crypto technology without the devs who wrote it is a very marketable thing.
You'd basically have to audit and reverse engineer a ton to even get back to where the product was before firing.
Either they've already struck a deal and the buyer didn't want all the employees, or that company isn't selling, IMO.