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>Starting in 2011, when the young company topped a $1 billion valuation, Airbnb prohibited workers from selling shares, while allowing its three founders — Ches
by ummonk 7y ago
>Starting in 2011, when the young company topped a $1 billion valuation, Airbnb prohibited workers from selling shares, while allowing its three founders — Chesky, Nathan Blecharczyk and Joe Gebbia — to cash out a total of $21 million.
This seems to be a common story with most startups. Founders making sure to get liquidity for themselves but not doing the same for employees.
- deleted 7y ago[deleted]
- everybodyknows 7y agoSimilar doings at TopTal: https://news.ycombinator.com/item?id=20707548 https://news.ycombinator.com/item?id=20707548
- GhettoMaestro 7y agoI know there are always reasons, but I feel that restrictions on selling should be focused at the leadership or investor class. Locking up your employees while allowing leadership to cash out is a surefire way to piss on any goodwill that you may have built over time. Also, it strikes me as just fundamentally wrong from a fiduciary point of view.