SEC fines Zenefits and former CEO for misleading investors
1–10 of 74 posts
Re: SEC fines Zenefits and former CEO for misleading investors
#2Here's the relevant SEC document: https://www.sec.gov/litigation/admin/2017/33-10429.pdf
Re: SEC fines Zenefits and former CEO for misleading investors
#3Url changed from https://techcrunch.com/2017/10/26/sec-fines-zenefits-nearly-..., which points to this.
Re: SEC fines Zenefits and former CEO for misleading investors
#4It's interesting that I can't think of any of these megagrowth tech startups that have gone off without a hitch. Zenefits, Uber, Snapchat, etc. are all in some form of trouble or another, and yet these companies are supposed to be the shining success stories that all other tech startups aspire to.
Re: SEC fines Zenefits and former CEO for misleading investors
#5It's interesting that I can't think of any of these megagrowth tech startups that have gone off without a hitch. Zenefits, Uber, Snapchat, etc. are all in some form of trouble or another, and yet these companies are supposed to be the shining success stories that all other tech startups aspire to.
Lyft, Spotify, Snap, SpaceX, to name a few.
Re: SEC fines Zenefits and former CEO for misleading investors
#6It's interesting that I can't think of any of these megagrowth tech startups that have gone off without a hitch. Zenefits, Uber, Snapchat, etc. are all in some form of trouble or another, and yet these companies are supposed to be the shining success stories that all other tech startups aspire to.
...yet these companies are supposed to be the shining success stories that all other tech startups aspire to.
reply
A lot of people in this world, as you can see on most threads on this site, define "good" as "financially successful,” and care only about getting a piece of the action. In that regard, it doesn't matter if it's legal, quasi-legal, a shitty scam or any permutation (see ICO's) if you see yourself as smart enough to get rich from it.
Re: SEC fines Zenefits and former CEO for misleading investors
#7In addition to the fine, the SEC notes that the founder lost $65 million dollars as a result the drop in price and compensating early investors for that drop.
Re: SEC fines Zenefits and former CEO for misleading investors
#8It's interesting that I can't think of any of these megagrowth tech startups that have gone off without a hitch. Zenefits, Uber, Snapchat, etc. are all in some form of trouble or another, and yet these companies are supposed to be the shining success stories that all other tech startups aspire to.
Lyft, Spotify, Snap, SpaceX, to name a few.
Snap can't be both! :D
Re: SEC fines Zenefits and former CEO for misleading investors
#9It's interesting that I can't think of any of these megagrowth tech startups that have gone off without a hitch. Zenefits, Uber, Snapchat, etc. are all in some form of trouble or another, and yet these companies are supposed to be the shining success stories that all other tech startups aspire to.
Lyft, Spotify, Snap, SpaceX, to name a few.
SpaceX is not a traditional VC funded tech/ software business.
Snapchat has a negative P/E ratio. In other words they are hemorraging money.
I can't speak as much to Spotify and Lyft, but I don't remember them being very profitable either. Or at least profitable enough to warrant their valuations.
Re: SEC fines Zenefits and former CEO for misleading investors
#10Earlier quoted context omitted.
Lyft, Spotify, Snap, SpaceX, to name a few.
Snap can't be both! :D
Give any company enough time. If you want to describe four strategies a company has used to become a shining success, your list could be Microsoft, Microsoft, Microsoft and Microsoft. If you want to describe four ways a company has really screwed up and was punished by the market and/or the government, your list could also be Microsoft, Microsoft, Microsoft and Microsoft.
You can probably replace Microsoft with Apple or Google without much trouble too (but it's trivial for Microsoft).