I understood that the 0.4% deal meant that at the end, they would together decide what happens with the project. Parties who decided to go forward and create a

I understood that the 0.4% deal meant that at the end, they would together decide what happens with the project. Parties who decided to go forward and create a company would give out 0.4% to the members of the team that would not go forward in exchange for their week-end contribution. >John explained that he’d spoken with Startup Weekend organizers and was told that contracts aren’t allowed from the event, so he asked for a handshake deal. Billy said he was happy with a handshake deal, and quickly moved the conversation forward without any handshaking actually taking place. I did misunderstand that paragraph. I thought that as "contract were not allowed from the event" the "Handshake Deal" must have been something different, like they would be all equal partners for example. If the handshake deal means "we all agree to 0.4% equity if we do no further work" it means at least that, Billy should have mentioned the 0.4% in the message about the company being 50/50 with his friend. Also, the idea was from Billy but the winning Startup Weekend project was a joint effort, not something Billy hired Bobby, John, Brad, Jason (team paladin), Josh, Clay, Hayden, and another John to do for him. I think the feeling of betrayal from Bobby is that the company was founded, with a third party, assuming to use the assets he and his friends worked on, _without them being involved in the process in any way_. The way things should have worked out for him to be happy would have been is if after the end of the Startup week end they had mutually agreed on what to do going forward. Instead, Billy moved forward and then asked the devs if they wanted to join his company that he created.