Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#1

Post by pakafka » Sat, Aug 22, 2009, 5:01 PM UTC

Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did
mediamemo.allthingsd.com

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#2

Post by il » Sat, Aug 22, 2009, 5:49 PM UTC

So basically Facebook got the same benefit as if they had acquired the company(the talent) for less money and the investors got screwed.

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#3

Post by _pius » Sat, Aug 22, 2009, 5:55 PM UTC

Well, that thickens the plot considerably.

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#4

Post by medianama » Sat, Aug 22, 2009, 5:56 PM UTC

This is clearly a conflict of interest. The founder should have disclosed the terms of employment offer to the investors (if not general public)

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#5

Post by johnnyg » Sat, Aug 22, 2009, 5:58 PM UTC

Isn't a startup's founder obligated to act in the best interest of the inventors whose money and risk made the venture possible?

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#6

Post by ivankirigin » Sat, Aug 22, 2009, 6:04 PM UTC

This completely doesn't tell the whole story, and those of you commenting should realize that.

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#7

Post by GavinB » Sat, Aug 22, 2009, 6:06 PM UTC

il wrote: post #2

So basically Facebook got the same benefit as if they had acquired the company(the talent) for less money and the investors got screwed.

Presumably they don't get the brand, domain name, existing code base, and access to registered users.

There's probably a lot more to this story than we know--there's no need to jump to conclusions.

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#8

Post by _pius » Sat, Aug 22, 2009, 6:07 PM UTC

ivankirigin wrote: post #6

This completely doesn't tell the whole story, and those of you commenting should realize that.

It's the most difficult kind of article to rebut: the kind that "raises questions" without drawing any conclusions. But they sure made the situation look pretty shady.

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#9

Post by davidw » Sat, Aug 22, 2009, 6:08 PM UTC

ivankirigin wrote: post #6

This completely doesn't tell the whole story, and those of you commenting should realize that.

Comes across as "there's more to it", but it did tell a side of the story that your earlier announcement didn't mention at all, which is why I guess people are interested in it.

Hope you both come through it all ok in any case, and good luck at your new job, and at some point in the future, your next stab at a company.

Re: Facebook, TipJoy, the Deal that Didn’t Happen and the Hire that Did

#10

Post by medianama » Sat, Aug 22, 2009, 6:09 PM UTC

I would like to hear PG's (or other investors) views on this.