101–110 of 172 posts
5% of XX,000,000 is at least $500k; you're a fool to take less.
Earlier quoted context omitted.
$100k is life changing money for most people.
Not for most people here, though. Do we really need to keep saying stuff like this every time anyone here mentions money? "$10 is a weeks worth of food for people in Africa, you know". $100k is a lot of money, no question. But it's only about 1-year's salary for a decently paid programmer. It's not enough to quit your job, and it's not even enough to buy a house in most major tech cities. Which is what the OP said "w…
What can you buy for $100K? It's not worth thinking IMO. Keep your 5% and find a job if you need $100K cash.
Earlier quoted context omitted.
The investors will probably only do it if the CEO is on board. Assuming they value relationship with CEO
Seems curious, though, that a CEO wouldn't want that 5% available to the investors at a reasonable discount. Versus the pittance that's being offered. Makes you wonder what else is afoot.
> what d'you mean by ex-founder and by what corporate action or process did you come to attribute this title to yourself?
> Why have you held your shares till this time?
> Why are you skeptical of the future of the company? D'you have a personal beef with the hardball CEO or is the company really doomed in your opinion?
> Who approached who (I mean you or your hardball CEO) to leave the company? To be clear, did he notify you of their intention to raise money and ask that you sell off or did you hear that they're about to raise money and then decide that you want out?
What can you buy for $100K? It's not worth thinking IMO. Keep your 5% and find a job if you need $100K cash.
I've had this situation happen a few times in my career, my advice is take the money and don't look back. Invest the money, burn it, buy rental properties with it,or go on a trip. It is always better to have a successful exit.
+1. Most folks here don't understand that 5% equity is easily diluted to 0.005% equity in 6 months. So now you are going to spend $50k suing the company for the $10k they owe you. OP needs to listen to people who have experience (like you) instead of random strangers who think equity = cash