3 ms·
>This is exactly right. 100s of thousands of well off techies strap your product to our body and the best deal you could arrange is to put a bullet in the compa
by fit2rule 10y ago
>This is exactly right. 100s of thousands of well off techies strap your product to our body and the best deal you could arrange is to put a bullet in the companies head?
Actually, I think what happened is that Eric, the CEO, is now a multi-millionaire.
So, this is more of a success story than most of us might consider savory to think about.
- kobeya 10y ago? As founder he held common stock, which would be worthless now.
- JonFish85 10y agoThere are lots of ways around that. His stock is worthless, sure, but he probably has something else, whether it's a huge retention bonus (cash or Fitbit stock, which is public and can be sold), an executive-level salary at Fitbit, or some combination of the two. There's also the possibility that he sold some of his equity to investors for cash earlier on. EDIT: I was wrong, he is joining YC. Thank you for pointing that out kobeya.
- kobeya 10y agoHe's not at Fitbit. He's joining YC.
- JonFish85 10y ago> So, this is more of a success story than most of us might consider savory to think about. In general this sort of thing is probably far more common than you'd think (top brass gets paid, everyone else gets a "thank you"). If I'm not mistaken, that's what happened at Sam Altman's company, and a good number of the YC company exits.