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I don't understand why he didn't nail down his equity situation before doing any work. Yeah, it's pretty shifty of the 'founders' but then it's pretty basic for
by CalChris 9y ago
I don't understand why he didn't nail down his equity situation before doing any work. Yeah, it's pretty shifty of the 'founders' but then it's pretty basic for techies, especially early startup engineers.
- Deestan 9y agoBecause of "don't worry - it'll be fine" thinking. https://news.ycombinator.com/item?id=15155068 https://news.ycombinator.com/item?id=15155068
- donovanm 9y agoYeah this is very ugly on both sides. A basic contract would've saved everyone a lot of grief.
- ben_w 9y agoI've been there. Verbal agreement to substitute most of my usual pay for three months in exchange for shares, only that part of the agreement wasn't written down, the shares never came, and when the three months ended the CEO was shocked, shocked, by the significantly higher invoice. Fortunately, I had written proof that I'd told them this was going to happen (the bottom of the previous invoice), so I did get paid, but I never did see those shares. Shares are a gamble anyway, and if the CEO doesn't read invoices I don't see them lasting very long — I don't loose sleep over this mistake, just use it as a lesson for the future.