4 ms·
Ask HN: How to Fire a Cofounder
Hi everyone,
1-We're a small startup of two.
2-My cofounder decided she doesn't want to keep working at our company
3-We have a 4 year vesting and 1 year cliff (about 4 months left)
4-We own both 40% each.
5-She is asking for 10% of the company to leave, meanwhile she is not working at all.
Is there any way to deal with this, or is there anyone who've been in a similar position?
Thanks!
- GFK_of_xmaspast 11y agoThat's what "owning the methods of production" gets you.
- byefelicia 11y agoI just don't understand what's the reason behind vesting if there is nothing I can do about this :/
- aurizon 11y agoIs she getting paid? Was she paid in the past? Is the company profitable? Why should she, who is leaving, get paid in more equity? Can you raise equity $$ from the remaining shareholders, asking her as well. If she fails to subscribe for more shares = diluted down. You can not afford a non-productive slug on the wall in control of 50% = ability to stall progress.
- byefelicia 11y agoNobody is getting paid.
- aurizon 11y agodoes the company have any hope of success? Sales? Profits? How much money did each one put in? How much cash remains? In any departure, the company has buy her shares for their cash value. She can not demand free equity to make her up to 50%. You can sell her equity to reach 50%, but in small startups, you need working partners, not drones who own 50% and wait for success so they can cash in.