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Ask HN: Co-founder wants me to leave but won't entertain a buy out offer
431–435 of 435 posts
Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer
#432Watch the movie "Startup.com", exactly the same problem.
Those guys really think they can get away with everything, but you really need to be prepared for sociopaths.
Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer
#433You don’t have to do anything. What you own is what you own.
Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer
#434Earlier quoted context omitted.
With a reverse vest, you own the shares immediately, and the vesting schedule defines how much of the shares you retain if you leave (i.e. if he quits now, 100% will be clawed back).
Yep, which means he effectively doesn’t own them right now, in any meaningful financial sense. For the purposes of control, sure. The parent comment of this thread was talking about keeping 40% of nothing.
There's a decent chance that the other founder is in the same position, in which case the investor is the only one with a real stake in things
Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer
#435Just don't sell then. What they gonna do, they are bound contractually.
If they try something fishy like getting toxic, abusive, etc and still doesn't want to buy out, I'd just blow the server on them, which, along with the entire code base, had no working backups uNfOrTuNaTeLy, then spin up a company two months down the line under a shell company that is registered via lawyers and doesn't have your name on the public papers.