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@lostfounder111 I read the full version and I would consider walking away from the business. This would: 1) Save your relationship with your father and brothe
by Blackstone4 9y ago
@lostfounder111
I read the full version and I would consider walking away from the business. This would:
1) Save your relationship with your father and brother
2) Hopefully help your mental wellbeing
3) Create new opportunities for you (i.e. start your own business or get a job with a competitive salary)
Whether you like it or not, your father has 100% of the equity and is in control. After multiple conversations, you have no equity and are under-paid. You have three choices:
1) Lawyer up - from your comments, it appears you are unwilling to do this. This would probably destroy your relationship with your family and may not even result in you receiving partial ownership
2)Stay and hope that you receive equity. From what I've read, it'll probably happen when your father retires or passes away. The frustration you have, will probably eat at you and damage your mental health. I would advise against this as you may become bitter and resentful. This would damage your relationship with your father.
3) Leave. It sounds like you are young enough and have a wealth of fantastic experience. Go get a job with a competitive salary or start your own business (maybe re-use your code with permission from your dad). You'll probably still get equity when your father hands over the reigns. Say that you want to stand on your own two feet and have something of your own. Try to maintain a positive relationship. If they need you to fix the software, charge close to market rate and point to the fact they are making millions in sales.
Whatever you choose to do, good luck :)
- Blackstone4 9y agoI wanted to add that your father probably has his own shit he is trying to process. Maybe he is worried about money and doesn't want to let go of his mealticket. Maybe he has difficulty trusting others. So what would happen if he handed over 50% of the company? Maybe he's worried that by you asking for equity that you're trying to take away what is his.
- lostfounder111 9y agoI think you are mostly correct here. My father has been a serial entrepreneur, though without any large payouts. He got screwed in an acquisition, and the next enterprise ended in bankruptcy. None were even half as large as our company is now. I know that until a few years ago, he had basically zero retirement savings -- which is different than having no money to spend. But you are probably correct on all counts.
- Blackstone4 9y agoThat's helpful context. I were to guess, you're dad is probably thinking the company is his and you don't need the money right now because you're young and have a bright future. He can just hold on to the equity until he has retired/cashed out. Then he will pass it so what is there to worry about.... It must be frustrating for you to be in this position. Unfortunately I don't think there is much you can do. The bright side is that you have amazing experience building up a company and I assume from your other comments, no debt. After multiple attempts, your dad finally has a successful company. You have your health which is your most important asset and you are financially stable.