Carta is making it too difficult to cancel subscriptions, some founders say

Post by habosa » Wed, Dec 18, 2024, 9:54 PM UTC

Sohcahtoa82 wrote: post #76

habosa wrote: post #53

Here’s my Carta horror story, since we’re sharing. I left my last company and had 90 days to buy my options. The day after I left the company (January) I exercised. The total I had to pay was about $20k. I didn’t think a lot about it after that. 6 full months later I get an email from Carta. It says my bank account transfer was unsuccessful. They had tried to pull the $20k from my account 6 months after I authorized…

> The total I had to pay was about $20k. I didn’t think a lot about it after that. You must be living in an entirely different world to me that you don't think about an upcoming $20K pull. I would have been calling up Carta after ~10 business days, if not sooner, if they were making me sit on $20K in cash. > and it had overdrafted my checking account by $1k (I don’t keep a ton of cash around). If a $20K overdrafted b…

I’m glad that your takeaway from this was to criticize my personal finances.

Post by Loxicon » Fri, Dec 20, 2024, 1:01 AM UTC

hn_throwaway_99 wrote: post #38

paultopia wrote: post #26

This is the sort of thing that a decent corporate lawyer ought to be able to handle. Obviously not giving legal advice to anyone's specific situation here (and I don't have a current bar card, though I am a law professor), but generally there's an implied contract law duty of good faith.[1] Dirty tricks like writing a contract that says something like "you can cancel at the end of a term, but you have to have a meeti…

I really, really think folks are overthinking this. This isn't a Comcast subscription. This is an enterprise software deal that costs many multiple thousands of dollars. Anyone that thinks that Carta was ever going to go "Oh, sucks to be you, you couldn't schedule your cancellation meeting before the renewal date, well, tough cookies, you have to pay us $18k for your next contract year" simply doesn't know how enterp…

> simply doesn't know how enterprise software deals work

You have highlighted an even scarier issue... enterprise software deals, if they all work like this, are scummy and the "way it works" isn't okay.

Re: Carta is making it too difficult to cancel subscriptions, some founders say

Re: Carta is making it too difficult to cancel subscriptions, some founders say