351–360 of 383 posts
Sometimes you just have to sue to enforce a contract and your rights. Many employees either don't realize this or they don't have the stomach for it. If you find yourself in this position, my advice is to play the game and see it through. 1. Don't resign, don't capitulate and hire a good lawyer immediately. If you don't have the cashflow, but are defending a huge pile of stock about to IPO you'll probably find a lawy…
Sometimes you just have to sue to enforce a contract and your rights. Many employees either don't realize this or they don't have the stomach for it. If you find yourself in this position, my advice is to play the game and see it through. 1. Don't resign, don't capitulate and hire a good lawyer immediately. If you don't have the cashflow, but are defending a huge pile of stock about to IPO you'll probably find a lawy…
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"If they do not agree to vest on termination then we go back to salary negotiation or I walk." So true. Expensive lesson for these folks.
Sometimes I pine for the good ol' days where this kind of unethical behavior would be met with a good old fashioned ass kicking.
I had the exact same thought about the "fraudster holding the Occupy Boston d/b/a certificate hostage" story. Especially in that kind of ground-up, loosely-couples collective action scenario, how does overt bad acting not result in a Code Red at the food tent?
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How good of a job have they been doing so far?
I don't see how violence would be a better answer.
Good God Fred, is this what a reasonably responsible company would do?
With the unvested shares, the executives believed they could attract more top talent with the promise of stock. Not anymore they won't.
"Friends don't let friends work at Zynga" was something I heard floating around a while back...
The thing that is not clear to me is why nobody has seen fit to call Fred Wilson out on this. For all of the "scruples beyond reproach" of what I think I know about Fred (and what I still hope to be true, despite this evidence), this one flies in the face of reasonable behavior. I doubt that something like this could (or should) be done so close to IPO that the board didn't know about it. I'm certain that Fred can't…
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I don't see how violence would be a better answer.
I'm not advocating anything. I'm saying that I won't be surprised if at some point people are going to start realizing that "being the better person" means they lose and the other party wins and that the establishment sides with the richest party.
I'd never, ever, under no circumstances, do anything with Zynga without one. That pretty much says I'd never, ever, under no circumstances, deal with them.
We have two option clawback stories in six months or so. These actions erode the trust relationship between entrepreneurs and the technical talent on which they depend. The expectation that startups will honor the options they give to the talent they hire is part of the social contract of the community. Reneging on that expectation will make talent wary of taking on the immense risk of working for or founding startup…
Earlier quoted context omitted.
I'm not advocating anything. I'm saying that I won't be surprised if at some point people are going to start realizing that "being the better person" means they lose and the other party wins and that the establishment sides with the richest party.
There was very smart advice being given somewhere else under this topic. Something like "Never do anything with people you wouldn't work with without a contract". I'd never, ever, under no circumstances, do anything with Zynga without one. That pretty much says I'd never, ever, under no circumstances, deal with them.