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I think Nathan has put a slightly negative spin on what happened to Gumroad- maybe implying that it was intended all along - but he does have a bit of a point.
>he does have a bit of a point Whats the point? Really though, I'm having trouble figuring it out.
This company is a disaster. They are even too stupid to understand the concept of account deletion. "How to delete your Gumroad account: From your Advanced Settings page, scroll to the bottom of the page, then click Delete your Gumroad account? After you've deleted your account, if you try to log back in, Gumroad will make your account "live" once again. Therefore, if you really want to delete your account, click Del…
How is this stupid ? Facebook does the same thing.
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Something I didn't realise until a while after reading this was that the author of the tweets was previously a large Gumroad customer + now runs a competing business (ConvertKit Commerce). I believe the events he's talking about are also very public (I think the Gumroad founder wrote a blog post about it that was on HN not that long ago).
Worse than feeling overly cynical is then having your cynicism validated. I recognized this guy's name, so skimming over the twitter thread my cynical thought was "I bet ConvertKit is working on a Gumroad competitor", and sure enough, they already have one.
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The alternative was to close down the company completely, I'm not sure how that would help the employees equity. Besides, options are by nature expiratory unless certain milestones are reached, which obviously wasn't the case. And if the employees did have real equity there is no way the founder could have gotten that without their consent.
> The alternative was to close down the company completely No, the alternative was to give the IP and equity ownership proportionally to the employees, not 100% to the founder. Instead, they gave it all to the founder and none to the employees who built the IP (as far as I can tell from public documents). Employees were told they received nothing because their work was useless. Apparently it wasn’t so useless.
At the time it was deemed worthless or whatever term we want to call it, the owners were the initial investors. They sold it (well some of them) back to the initial founder.
It's their ownership to sell....
I go back to my point that we need to be honest about what the equity and rights of individual contributors really IS more than some ephemeral expectation that someone should get equity ... after most everyone has given up... or after others work to resurrect it.
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Worse than feeling overly cynical is then having your cynicism validated. I recognized this guy's name, so skimming over the twitter thread my cynical thought was "I bet ConvertKit is working on a Gumroad competitor", and sure enough, they already have one.
Him being a competitor really doesn't change the shitty things Shl did.
What? I asked earlier about 'mismanagement' and other accusations but nobody defines this stuff.
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>he does have a bit of a point Whats the point? Really though, I'm having trouble figuring it out.
That Gumroad states it is "for creators" but the original Gumroad creators will not benefit from the new funding round.
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Him being a competitor really doesn't change the shitty things Shl did.
>the shitty things Shl did. What? I asked earlier about 'mismanagement' and other accusations but nobody defines this stuff.
The stuff Nathan talks about isn't even the worst. He never mentions Shl's attempt to monetize racial injustice and then telling a black woman she doesn't qualify for the promotion because her skin isn't dark enough, then blocking everyone who says what he did/said was not cool, and instead of acknowledging and fixing his fuckups, he just goes silent until the uproar dies down and then goes on with business.
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>the shitty things Shl did. What? I asked earlier about 'mismanagement' and other accusations but nobody defines this stuff.
Good job downvoting instead of doing some self research. It's not hard to find stuff. The stuff Nathan talks about isn't even the worst. He never mentions Shl's attempt to monetize racial injustice and then telling a black woman she doesn't qualify for the promotion because her skin isn't dark enough, then blocking everyone who says what he did/said was not cool, and instead of acknowledging and fixing his fuckups, h…
What stuff?
The rest of your post sounds like some personal conflict about some unrelated topic.... it's about racial injustice now?
Are you saying the dude who posted that twitter thread is concerned about that?