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As a general rule that will serve everyone well on hacker news throughout their lives: Don't ever expect someone who has gotten their hands on your money to vo
by ACow_Adonis 10y ago
As a general rule that will serve everyone well on hacker news throughout their lives:
Don't ever expect someone who has gotten their hands on your money to voluntarily close up shop and give it back :p
They'll take it to the casino and bet it all on black, or siphon it off somewhere else before that ever happens...because all your money gone and them giving it back to you is the same thing to the person who no longer has it.
- jacquesm 10y ago> Don't ever expect someone who has gotten their hands on your money to voluntarily close up shop and give it back :p Maybe you shouldn't expect it, but I have seen a start-up or two that failed and that did exactly that. And start-ups that fail have a whole pile of clauses triggered in the various shareholder agreements that count towards a 'liquidation event'. That's what liq-prefs are for and the immediate consequence usually is that the latest investors stand the best chance of getting some or all of their money back.
- ACow_Adonis 10y agoYep. There's always some events that restore faith in humanity and make you go "wow, I'll remember that/them, full respect/kudos". But just don't expect it...
- jacquesm 10y agoI think it seriously increases your chances of getting funded with a new project later on. On the other hand, if you're scamming consumers of course it is only a very small step to scam investors (and easier to get away with).