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Apple event overshadows unflattering news at Snapchat, Tinder

fortune.com

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Re: Apple event overshadows unflattering news at Snapchat, Tinder

#41

Post by nailer »

downandout wrote: post #2

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…

From the Businessweek link, Brown seemed to contribute an idea. And that's it.

Nothing unique (disappearing photo apps existed before, see the rest of the thread).

No programming expertise, he didn't make anything.

Re: Apple event overshadows unflattering news at Snapchat, Tinder

#43

Post by vladtaltos »

nailer wrote: post #41
downandout wrote: post #2

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…

From the Businessweek link, Brown seemed to contribute an idea. And that's it. Nothing unique (disappearing photo apps existed before, see the rest of the thread). No programming expertise, he didn't make anything.

read their statement carefully:

“We acknowledge Reggie’s contribution to the creation of Snapchat and appreciate his work in getting the application off the ground.”

I wouldn't think they'd add a sentence like this to their press release if his only contribution was only an idea.

Re: Apple event overshadows unflattering news at Snapchat, Tinder

#44

Post by k__ »

nl wrote: post #32
TaoloModisi wrote: post #24

It's interesting the news on Tinder and Snap Chat came around the same time of Apple’s new iPhones and iWatch release. In fact, it's no coincidence they must have been trying to hide behind the noise.

That's almost exactly what the headline of the article says!?

Maybe he wanted a discussion about, how apple news bury interesting news. Instead of discussion how founders get screwed?

Re: Apple event overshadows unflattering news at Snapchat, Tinder

#45

Post by stigi »

downandout wrote: post #2

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…

I wonder how such things become possible. As co-founders shouldn't you have a written (and lawyer checked) agreement on how the company is shared amongst you?

How can one betray the other besides of letting him/her unknowingly sign an unfortunate contract?

Re: Apple event overshadows unflattering news at Snapchat, Tinder

#47

Post by jonifico »

stigi wrote: post #45
downandout wrote: post #2

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…

I wonder how such things become possible. As co-founders shouldn't you have a written (and lawyer checked) agreement on how the company is shared amongst you? How can one betray the other besides of letting him/her unknowingly sign an unfortunate contract?

Projects like that are usually made between friends and aren't really expected to become THAT big. Plus, it doesn't really matter, they took the guy out of the business and took away his rightful part of it. Good thing they settled.

Re: Apple event overshadows unflattering news at Snapchat, Tinder

#48

Post by untog »

shawabawa3 wrote: post #29
dkfmn wrote: post #21

Earlier quoted context omitted.

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.

> You really have to believe in the company as a whole to make that commitment Or just get a good salary/benefits/etc

Somewhere like Google will likely pay better, though.

Re: Apple event overshadows unflattering news at Snapchat, Tinder

#49

Post by sunievl »

curiousDog wrote: post #18

As a side note, is it still wise/advisable to join Snapchat as an engineer? Particularly for Visa candidates whee the risk is higher?

depends on what you want out of the job.. Are you looking to establish yourself as a good engineer? Hoping to make big money? Looking for a good salary, perks etc?

Re: Apple event overshadows unflattering news at Snapchat, Tinder

#50

Post by nilkn »

compare wrote: post #5

Seems a bit comical that the article claims this to be the first disappearing photo app. I created and launched one myself a year before Snapchat started... The normal way for start founders to receive equity, is only from one or more of these 3 things: - For hours worked, based on the vesting and usually the hours must be beyond the cliff or you get nothing. - If you built a crucial part of the IP that the company n…

I don't think it really matters at all what exactly you did if there was an agreement that you get a third of the equity.

Reggie's mistake was not getting it in contractual form. However, clearly the law still takes clearly communicated pacts between friends somewhat seriously, as it forced Snapchat to settle.

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