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Zenefits paid a fine for misleading investors (with some contribution from the founder). The company is financed by investors, so in other words they indirectly paid the fine for being misled. Ironic?
It'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.
It doesn't help that VCs actively promote and foster founders who behave in ways that would get themselves in trouble. I guess in the case of Zenefits misleading investors is a rule that doesn't "matter". 4. Naughtiness Though the most successful founders are usually good people, they tend to have a piratical gleam in their eye. They're not Goody Two-Shoes type good. Morally, they care about getting the big questions…
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It doesn't help that VCs actively promote and foster founders who behave in ways that would get themselves in trouble. I guess in the case of Zenefits misleading investors is a rule that doesn't "matter". 4. Naughtiness Though the most successful founders are usually good people, they tend to have a piratical gleam in their eye. They're not Goody Two-Shoes type good. Morally, they care about getting the big questions…
That is a good and necessary thing in order to create a company. If you’re used to obeying rules (especially unwritten ones) you’ll never get off the ground in the first place.
I know plenty of people who "get off the ground" by playing by the rules. I'd love for you to re-read your comment again and tell me that it doesn't sound dogmatic.
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That is a good and necessary thing in order to create a company. If you’re used to obeying rules (especially unwritten ones) you’ll never get off the ground in the first place.
> If you’re used to obeying rules (especially unwritten ones) you’ll never get off the ground in the first place. I know plenty of people who "get off the ground" by playing by the rules. I'd love for you to re-read your comment again and tell me that it doesn't sound dogmatic.
But it’s generally true. Find me a billion dollar company started by someone who follows all the rules.
Zenefits paid a fine for misleading investors (with some contribution from the founder). The company is financed by investors, so in other words they indirectly paid the fine for being misled. Ironic?
Value was re-allocated from founders and employees to investors.
[1] https://www.sec.gov/litigation/admin/2017/33-10429.pdf § 46
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I don't think that's really the case here, HN doesn't seem to have many kind words for the makers of sham ICOs. How you get rich matters - if it's from making a huge business that's generally helpful, people admire you much more.
> How you get rich matters It really doesn't. There is a very narrow set of circumstances that would aversely affect your place in society based on how you earned it. Just think about how often it actually comes up regarding the wealthier people you may know or have heard about. Your wealthier neighbor. Odds are you never dug for all the civil litigation they encountered, or the relative morality behind each case or…
I'm not saying there aren't a number of advantages to being wealthy, there certainly are.
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I don't think that's really the case here, HN doesn't seem to have many kind words for the makers of sham ICOs. How you get rich matters - if it's from making a huge business that's generally helpful, people admire you much more.
“How you get rich matters...” Peter Thiel. The Bushes. Bill Gates. George Soros. Warren Buffett. IBM. Bayer.
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“How you get rich matters...” Peter Thiel. The Bushes. Bill Gates. George Soros. Warren Buffett. IBM. Bayer.
What's the point you're trying to get across?
Edit: Do you have a point?
It'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.
The reason to be skeptical of the "shining success story" ideal is the underlying, incorrect assumption that success is about being free of faults. Success is about achievement far in excess of the average. When a change is massive, it usually hurts someone. Sometimes things that seem really positive, like facebook helping kids stay in touch, contain massive negatives, like amplifying polarization in society. That's…