21–30 of 115 posts
As a side note, is it still wise/advisable to join Snapchat as an engineer? Particularly for Visa candidates whee the risk is higher?
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Have you seen their shareholder agreement? Does one even exist? Vesting is quite common in the EU, but only when it is agreed upon by all parties. If you're founding a business on equal equity based on the capital deposited you get those shares up front, any additional shares emitted subject to vesting/shareholder agreements, payments and so on. What you agree on matters, not what you later think you should have agre…
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Agreements tend to be legally binding on both sides of the Atlantic, if my experience is any guide then the US is much stronger on contracts and agreements than Europe, but apparently we we're not going to agree on that.
What matters is that we're talking about a very specific case, not just your experience or general matters. And that in that specific case which the linked article talks about there was more than just smoke about there being 3, not 2 co-founders to snapchat and that one of them got unfairly cut out of the deal.
What the US norm is in such cases is not relevant, if you agree on a three way split then that is what you should do. If someone contributes to your start-up in a non-material but essential way then you can decide to reward them or not, but once you've made a commitment towards sharing in the proceeds you can't later backpedal on that.
And there is nothing European about that. Case in point: this lawsuit is going down in the US.
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I don't understand why you're coming at this from a US vs EU angle. I've worked in both as well, have had a company in the US, have had a company in Canada as well as several in Europe. Agreements tend to be legally binding on both sides of the Atlantic, if my experience is any guide then the US is much stronger on contracts and agreements than Europe, but apparently we we're not going to agree on that. What matters…
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I don't understand why you're coming at this from a US vs EU angle. I've worked in both as well, have had a company in the US, have had a company in Canada as well as several in Europe. Agreements tend to be legally binding on both sides of the Atlantic, if my experience is any guide then the US is much stronger on contracts and agreements than Europe, but apparently we we're not going to agree on that. What matters…
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You seem to be really stuck on this point. EU economies suffer because we take contracts extremely literally?
I don't know why you would bring this subject up in several unrelated treads but that's something you can probably answer better than I can. This thread has reached enough levels for me.
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> https://news.ycombinator.com/item?id=8287856 You seem to be really stuck on this point. EU economies suffer because we take contracts extremely literally? I don't know why you would bring this subject up in several unrelated treads but that's something you can probably answer better than I can. This thread has reached enough levels for me.
As a co-founder who got screwed on a large acquisition, it makes me happy to see that Snapchat finally settled. However, a settlement doesn't change the fact that Evan Spiegel really went out of his way to intentionally screw the guy that actually invented Snapchat's model - and seemed to enjoy doing it. He's definitely not someone I'd ever do business with. http://www.businessinsider.com/snapchat-lawsuit-video-depos…
What's more frightening to me is how many VCs and other investors who went along with the charade and did not care that this criminal was a representative of them.
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> https://news.ycombinator.com/item?id=8287856 You seem to be really stuck on this point. EU economies suffer because we take contracts extremely literally? I don't know why you would bring this subject up in several unrelated treads but that's something you can probably answer better than I can. This thread has reached enough levels for me.
As a side note, is it still wise/advisable to join Snapchat as an engineer? Particularly for Visa candidates whee the risk is higher?
The value of the company is already so high that much of the upside is removed. You really have to believe in the company as a whole to make that commitment.
Or just get a good salary/benefits/etc
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Have you seen their shareholder agreement? Does one even exist? Vesting is quite common in the EU, but only when it is agreed upon by all parties. If you're founding a business on equal equity based on the capital deposited you get those shares up front, any additional shares emitted subject to vesting/shareholder agreements, payments and so on. What you agree on matters, not what you later think you should have agre…