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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

#151

Post by senko »

tptacek wrote: post #122
yudlejoza wrote: post #121

Earlier quoted context omitted.

I'm sorry but this is a ridiculous advice.

It's the plot of a movie that nobody on this thread wants to watch, but that doesn't make it bad advice.

Advising to give up while there's still room to negotiate sounds like bad advice. At the worst, OP could turn this into a learning excercise on how to negotiate in a tough situation, with zero downside compared to the advice given here.

This doesn't have to be a protracted legal battle, but reading up on documents they signed, figuring out their proiories (continue in biz? get at least some value out? etc) and negotiating in good faith is something that might come very handy later, in another startup, with much more to lose.

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

#152

Post by chuckus »

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…

Agree with this, 3% of something is better than 40% of nothing. I was a technical co-founder was that left a startup early on, and because we didn't have a vesting agreement from the very beginning, I was entitled to my 40%, even when I left the company. While it was to my advantage, I didn't want my co-founder to give up when I left, so I gave most of it up. For my next startup, I'll make sure to have a goals-based vesting agreement from the very beginning i.e. co-founder gets x% on first sale, x% on first raise

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

#153

Post by xwdv »

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…

Wish I had downvote powers to downvote this because it's horrible advice.

You literally have nothing to lose by just waiting for the equity to vest and keeping your 40%. Fuck the co-founder. Fuck 3%.

Worst case you end up with 40% of nothing. Walking away you end up with 0% of nothing. If you don't stand up for your equity no one will. And if you let him get away with this, down the line he'll do the same shit to someone else. Stop this guy now in his tracks, don't let him swindle you and everyone else.

Don't be an idiot.

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

#156

Post by elpatoisthebest »

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.

Why do you say that?

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

#158

Post by lifeisstillgood »

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 disagree - keep the 40%, this will at least force them to come to you with why they want you to leave.

The obvious answers are

- they are a jerk to work with and they won't admit it - you are a jerk to work with and they won't tell you - something else

If it's something else and there is real money at stake both of you should be able to work something out.

Otherwise it's one of the first two - which is much harder to deal with

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

#159

Post by gojomo »

mooreds wrote: post #99
mywittyname wrote: post #88

Earlier quoted context omitted.

Try turning the tables and offering them a buyout.

Unfortunately it doesn't sound like an option: > They will not entertain the idea of me buying them out for cash.

That's a negotiating position.

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

#160

Post by cm2012 »

xwdv wrote: post #153
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…

Wish I had downvote powers to downvote this because it's horrible advice. You literally have nothing to lose by just waiting for the equity to vest and keeping your 40%. Fuck the co-founder. Fuck 3%. Worst case you end up with 40% of nothing. Walking away you end up with 0% of nothing. If you don't stand up for your equity no one will. And if you let him get away with this, down the line he'll do the same shit to som…

Exactly this. You don't let bad actors walk all over you.
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