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I’m CEO of Linear who raised the alarm on this. I have to commend them for making this decision and removing the conflict of interest. However they didn’t address the fact that sales people had convenient access to data and how long & broadly that access was abused. Edit: fixed “Linear CEO” to “CEO of Linear”
what is "linear"? [ edit : thanks below! ]
I’m CEO of Linear who raised the alarm on this. I have to commend them for making this decision and removing the conflict of interest. However they didn’t address the fact that sales people had convenient access to data and how long & broadly that access was abused. Edit: fixed “Linear CEO” to “CEO of Linear”
what is "linear"? [ edit : thanks below! ]
He's the CEO "of" Linear, not a linear CEO :)
I thought his responses were terrible and worthy of being fired over the weekend, but I am impressed with his quick action on this. I guess you can put me down as “neutral” towards this person.
dude pretty clearly got his cheeks clapped by everyone around him, presumably including the board/vcs who invest in carta.
I’m CEO of Linear who raised the alarm on this. I have to commend them for making this decision and removing the conflict of interest. However they didn’t address the fact that sales people had convenient access to data and how long & broadly that access was abused. Edit: fixed “Linear CEO” to “CEO of Linear”
The Carta CEO has botched the response here multiple times now and this latest pass just comes across as an oops sorry we got caught, we won’t do that anymore response… but still dodging the hard questions on how data was being managed.
Separate of what did or didn’t happen here, I hope more companies crack the secondary market puzzle. The current environment really sucks for startup employee liquidity and might be going on for a lot longer.
This feels like the wrong solution. I mean, the reason we need a secondary market is because companies are going public much later than the used to. Why? Because the government made it a lot more onerous to go public. Why? Because companies were abusing the process to enrich insiders.
If we make the secondary market easier, we'll just be right back where we were, and then the government would probably just step in and make it onerous again.
I think the actual solution here is to make going public easier again while addressing the loopholes for abuse so that companies can go public sooner and everyone can get liquidity sooner.
How We Handle Cap Table Information - https://news.ycombinator.com/item?id=38906749 - Jan 2024 (88 comments)
Linear CEO alleges Carta mishandled sensitive cap table data - https://news.ycombinator.com/item?id=38899001 - Jan 2024 (36 comments)
Carta CEO's response to the unsolicited outreach to their customers' investors - https://news.ycombinator.com/item?id=38897363 - Jan 2024 (98 comments)
Carta doing unsolicited tender offer outreach to their customers' investors - https://news.ycombinator.com/item?id=38886915 - Jan 2024 (80 comments)