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Tanium is facing employee unrest and an executive exodus

bloomberg.com

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Re: Tanium is facing employee unrest and an executive exodus

#31

Post by tigershark »

jacquesm wrote: post #6

Whoever thought that calling 'Orions List' 'Schindlers List' was clever has no idea what Schindlers List was all about. > The situation at Tanium underscores the risk of venture capitalists placing near-absolute power in the hands of a company’s creators. That sentence does not make sense to me. It is a rule rather than an exception that VCs end up with minority shareholdings but usually favorable terms in case of li…

To me the parallel with Schindler's list is pretty obvious. He was a nazi that put Jews names in a list for industrial workers to save them from concentration camps. In this case we have a Jew that put workers in a list to steal their money. For sure is not a good taste joke, but I can see the point.

Re: Tanium is facing employee unrest and an executive exodus

#32

Post by reimertz »

anon42387 wrote: post #29

Where is the evidence? Where are the quotes by previous employees making this claim? These employees were fired because they were failing to do their job. If you are running a company will sit aside and do nothing and continue to let anyone stay in the company that proved to miss their target repetitively? These claims are 100% false. This story is not only poorly written but it is full of false information crafted o…

How do you know these claims are 100% false?

Assuming they have no valid quotes are just silly. I think it's pretty clear why, the huge risks of retribution.

Re: Tanium is facing employee unrest and an executive exodus

#33

Post by CyrusL »

jacquesm wrote: post #26
tptacek wrote: post #22

Earlier quoted context omitted.

I'm a vocal defender of vesting and cliffs, but even I think you shouldn't take a job somewhere where you vest in annual chunks after your cliff.

It's pretty normal though. What does it cost to transfer stock in the US in a privately held company? Here in Europe it can be up to ~$1K to transfer stock in a GMBH or BV, other countries more or less depending on the local situation regarding notary public roles and rates. In a public company it is dirt cheap but this is prior to IPO. That + accelerated vesting in case of wrongful termination or termination without…

There is no stock transfer or fees associated with the typical startup vesting schedule in the US. It's just written as an algorithm in legal documents like "...one fourth of which will vest after twelve months and blah blah blah..." The exercising is more paperwork on top of the vesting.

Re: Tanium is facing employee unrest and an executive exodus

#34

Post by 55555 »

mvpu wrote: post #17

I'm getting sick of reports like this. Setting up unfair vesting schedules and firing people before their stock vests... somebody should vigorously investigate it and put the CEO in jail. Startups are fucking hard work and a CEO stealing glory is a crime not a culture issue. These guys need fear of God.

If it's not fraud it's pretty damn close. Certainly sounds illegal, and definitely should be if it isn't.

Re: Tanium is facing employee unrest and an executive exodus

#35

Post by jacquesm »

anon42387 wrote: post #29

Where is the evidence? Where are the quotes by previous employees making this claim? These employees were fired because they were failing to do their job. If you are running a company will sit aside and do nothing and continue to let anyone stay in the company that proved to miss their target repetitively? These claims are 100% false. This story is not only poorly written but it is full of false information crafted o…

> It's sad that I can no longer feel as though Bloomberg is a creditable source of news.

I feel the same way about novelty accounts.

Re: Tanium is facing employee unrest and an executive exodus

#36

Post by diminoten »

anon42387 wrote: post #29

Where is the evidence? Where are the quotes by previous employees making this claim? These employees were fired because they were failing to do their job. If you are running a company will sit aside and do nothing and continue to let anyone stay in the company that proved to miss their target repetitively? These claims are 100% false. This story is not only poorly written but it is full of false information crafted o…

If you've got contradictory information you're willing to share, it would be interesting to hear about it.

Re: Tanium is facing employee unrest and an executive exodus

#37

Post by late2part »

tptacek wrote: post #11

There are bad reasons to quit a company and good ones, but there are few better ways to make an exit than on the spot when the CEO of your company personally and publicly berates a low-level employee in front of the team.

Correct. If you tolerate, if you blindly allow, if you accept without action - you implicitly endorse.

I remember a time 10 years ago when a flight attendant harassed a person behind me unfairly. I regret not standing up for that person.

Don't be a bystander - do the right thing!

Re: Tanium is facing employee unrest and an executive exodus

#38

Post by late2part »

jacquesm wrote: post #10
tptacek wrote: post #8

Earlier quoted context omitted.

Did I miss the part of this story where they said they had nonstandard vesting? The industry standard is 4 year vesting, month by month, with a 1-year cliff. The traditional horror story is employees being fired just before they cliff.

No, I just think GGP is mis-interpreting the situation because of the article's unfortunate wording. Once the stock is vested it stays vested. Whether it is 'worth something' or not doesn't matter, if you've got it it stays unless you sell it. I suspect 'worth something' translates into 'something for which there is an easy market', merely whether or not you can easily sell it. Whether this particular stock will go u…

As you well know, but to clarify for others, once the stock is vested - it stays vested unless you quit and don't buy it. Once you've vested the stock and purchased it - it stays "vested" as you own it - unless it's 83b early election of stock which is restricted, and that restriction retracts over time like vesting.

Re: Tanium is facing employee unrest and an executive exodus

#39

Post by snsr »

anon42387 wrote: post #29

Where is the evidence? Where are the quotes by previous employees making this claim? These employees were fired because they were failing to do their job. If you are running a company will sit aside and do nothing and continue to let anyone stay in the company that proved to miss their target repetitively? These claims are 100% false. This story is not only poorly written but it is full of false information crafted o…

> Where is the evidence?

> These claims are 100% false.

hmm

Re: Tanium is facing employee unrest and an executive exodus

#40

Post by LoSboccacc »

posguy wrote: post #25
jacquesm wrote: post #20

Earlier quoted context omitted.

> while being able to fire the employee after a few years just before they vest Never ever agree to a vesting schedule where it takes longer than a year to get your stock. 1 year cliff maximum.

Yeah, a fair vesting schedule should evenly vest as you work, ideally as often as possible (eg: every month or week). Its akin to compounding, as a savings account holder you want the interest on your account to compound as often as possible.

to keep it to the point it should come month by month along with the standard compensation, since you take a pay cut in exchange for stock it's only fair to have it delivered month by month, at most with a clause that after x year the stock trickle stops and you get an equivalent increase in your pay

sadly there's plenty sucker willing to gift their work away so any hint of people having a clue about the risks in cliffed vesting become unhirable troublemakers in most startups

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