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Why? Is this because investors want to make a quick buck on this?
Is there functionally anything bad about getting fired vs resigning? In this situation or any?
I know that in some jobs if you resign they don't have to pay out to the end of your contract. If they fire you they do (unless you're in breach on contract I suppose). Also if you resign it can be more difficult to get social welfare benefits.
Q:"Just remaining a gigantic private company seemed impossible?" A:"You have to go public at some point. The way we were structured and the way we had raised money, we were just engineered so that, if we weren’t going to get acquired, that was the only exit option for us." Why? Is this because investors want to make a quick buck on this?
The reason funds are structured this way is that it gets complicated to pay out things like bonuses or to do estate planning when so much capital is uncertainly tied up in a single, illiquid entity. Divorce happens, tax rates change, people reasonably want their money.
I was a groupon user / and higher value to restaurants I'd like to think (ie, strong income, would go out to eat at a nice place, if I liked a new place I'd go to it more) but also someone who doesn't want a lot of hassle, time is money etc.
Groupon went from actually good deals, hassle free, to endless marketing emails / wall to wall shlock deals (50% off supposed $300/hr personal trainers? 20% off the latest MLM scam) and lots of scammy / scummy merchants who did everything they could to rip you off.
These dying places pulled every bogus trick. I'm sure there are cheap customers willing to fight through it all, but the money is probably in the folks able and willing to pay bigger $ just looking for an excuse to try some place new.
Then you read all the crap the groupon sales managers pulled to get folks on board (ignoring do not call, threatening bad yelp reviews).
Yuck.
Andrew Mason is still worth hundreds of millions of dollars. Sure, he was fired from his job, but I wouldn't exactly call that a "fall". It's not like they took away his equity in the company.
Very true. He's apparently worth $200million. That's generational wealth 99% of us can only dream of.
Is there functionally anything bad about getting fired vs resigning? In this situation or any?
If they are going to fire you and offer your the chance resign. While it means you resigned and thus you can't sue, it also means that when (if...) someone checks references they will say "yes, he/she worked here, and left of his own will". Since any big company will not say more than that no matter who good you are this is a perfect reference and you start over. If you are fired they have to say instead "yes, he/she worked here and until fired"
Note that fired is very different from being laid off.
I know I should have read the fine print, but it's so easy to miss.
Is there functionally anything bad about getting fired vs resigning? In this situation or any?
Fired has legal implications. They will do it, but if they don't get all the paperwork right you can sue for wrongful termination. Thus they would rather not fire you if they can get you to resign. If they are going to fire you and offer your the chance resign. While it means you resigned and thus you can't sue, it also means that when (if...) someone checks references they will say "yes, he/she worked here, and left…
Andrew Mason is still worth hundreds of millions of dollars. Sure, he was fired from his job, but I wouldn't exactly call that a "fall". It's not like they took away his equity in the company.
Very true. He's apparently worth $200million. That's generational wealth 99% of us can only dream of.