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Ask HN: Co-founder wants me to leave but won't entertain a buy out offer

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Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer

#131

Post by lostsoul8282 »

gkoberger wrote: post #117

Can I give you some advice that really sucks? Walk away. It's not fair, but starting a company isn't like getting a job. It's a relationship and a risk that doesn't always work out. Sometimes you find more money and success than you could ever dream of, and other times you waste 11 months. Here's my thought process. You and your cofounder aren't going to be able to work together after this. The company has no money a…

I agree. They can fight this and drain energy but they will only get what they deserve up to this point. Which might be worth fighting for but if you believe that that you can do better, I would walk away - no agreement/liability to the company and if they are passionate about the idea rebuild it with a stronger team quicker.

The difference this time is they is more knowledge, clearer path and knowledge of what a competitor is doing. Consider it draft 2..if that's a direction you want to go.

Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer

#132

Post by hvaoc »

You got nothing to lose all on your own (except time wasting with this person), but if that's worst enough. You have two options

1. 40 % of Nothing, other part gets the same deal. 2. You get 40 % of whatever this business is worth for. The other party gets the same.

You lose together or gain together. That's a fair game in a Startup as founders.

Don't accept anything else, if you do they just managed to bulldoze you out of your equity.

Stand for fair deal.

Don't get bullied by these negative tactics.

Remember "Two broccoli or Four broccoli" from your mother. - Call the bluff and fake dichotomy of choices. I would say - No Broccoli.

Meantime, keep everything documented and be professional - do not let them have any choice to get you out.

Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer

#134

Post by tptacek »

MisterBastahrd wrote: post #125
yudlejoza wrote: post #121

Earlier quoted context omitted.

I'm sorry but this is a ridiculous advice.

I would burn the entire thing to the ground and piss on its smoldering ashes before I would allow someone to take advantage of 11 months of my work just because he thinks he can make more money for himself if he positions himself as a solo founder.

"I would spend $15,000 of my own money and 8 more months of my life during which I deed control of my adrenal system to this stupid controversy and get little else done, and ultimately reach at best the same outcome as I'd have achieved walking away amicably, less expenses, before I would allow someone to take advantage of 11 months of my work".

Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer

#136

Post by hjek »

cwkoss wrote: post #124
pc86 wrote: post #118

Earlier quoted context omitted.

> Why not let something break Because this is the professional equivalent of shitting in your hand and throwing it at the wall? The fact that an adult would suggest abdicating any professionalism and just letting a site with 60k users and investment backing start to break to prove a point is astounding.

The non-technical co-founder is trying to steal the fruits of OPs labor and slash his equity by more than 90%. This isn't sabotage, it's a labor strike until an equitable agreement is found.

> This isn't sabotage, it's a labor strike

Exactly. Big difference between breaking something and letting something break.

Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer

#137

Post by dbnoch »

yudlejoza wrote: post #121
gkoberger wrote: post #117

Can I give you some advice that really sucks? Walk away. It's not fair, but starting a company isn't like getting a job. It's a relationship and a risk that doesn't always work out. Sometimes you find more money and success than you could ever dream of, and other times you waste 11 months. Here's my thought process. You and your cofounder aren't going to be able to work together after this. The company has no money a…

I'm sorry but this is a ridiculous advice.

the sad part is that they are right. I was in a similar situation and there really is nothing you can do. They don't own the majority share of the company to make the decision.

It's honestly a terrible situation

Re: Ask HN: Co-founder wants me to leave but won't entertain a buy out offer

#138

Post by gwbas1c »

codegeek wrote: post #86
gwbas1c wrote: post #26

Earlier quoted context omitted.

I thought that's what involving a lawyer in these kinds of negotiations is supposed to do? That requires having the bucks in the bank to pay for a lawyer. If fourtydegrees is young with a thin wallet, I don't think lawyers were involved.

Not all lawyers will cost 100k. You can get a good lawyer for 2-3K for basic consultation and if you don't even that type of cash, then it is tough for sure.

> You can get a good lawyer for 2-3K for basic consultation

Maybe it's just my style, but that's a lot for me to shell out on "day one" of working with someone. I prefer to trust the people I work with.

But, in a situation like this I'd happily spend that kind of money to get something straightened out.

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