4 ms·
Oh gonna need a throwaway for this one. I had an exit interview where the founder told me their endgame was to destroy the value of the company to buyback the
by spurned_dev 6y ago
Oh gonna need a throwaway for this one.
I had an exit interview where the founder told me their endgame was to destroy the value of the company to buyback the equity they sold to investors. I've never been more insulted in my life.
- eric-hu 6y agoThis seems like it would be very valuable information to the investors.
- Thorrez 6y agoIt sounds like it might be illegal, maybe it could be reported to the FTC.
- fluffy87 6y agoDefinitely illegal. This is fraud.
- dragonwriter 6y agoMaybe I'm missing something, but it seems a lot more SEC than FTC.
- fsckboy 6y agoit's probably the state AG's office
- arethuza 6y agoWhat I never understand about these kinds of things is that it is bad enough to plan to do that, but why go around telling people what you plan to do?
- andy_ppp 6y agoHuman nature to talk about things that play on your mind? Could also be to show off how clever you are. But yes it’s slightly insane!
- rexreed 6y agoCutting off your nose to spite your face. Destroy the company and then it's worth nothing for anyone. How does that make sense? Founder was better off just quitting and starting a new company from scratch.
- koolba 6y agoWe’re talking about Reddit right?
- sjg007 6y agoHmm, seems strange.. seems easier to start another one. I mean we have a wide range of forum sites.
- jonathanliu 6y agoReddit has an established dominant position on google search, in culture, etc, would be very hard to start from scratch.
- bobthepanda 6y agoReddit replaced Digg, so it’s not impossible for something to replace Reddit.
- mthoms 6y agoReddit was quite popular before Digg failed. It didn't spring up over night. But yeah, something might replace Reddit one day. Getting there will be extraordinarily hard.
- pests 6y agoI remember reddit as this weird place when Digg waa big. No subreddits just one listing. Didn't really switch over until the digg death.
- sjg007 6y agoIt's certainly possible, HN here is a niche reddit clone that doesn't have a subreddit equivalent I've found. Slashdot would be the closest to HN ...
- ideals 6y agoAnd you're still protecting them even after they admitted to fraud! This is in response to someone saying we need to look out for each other. Our fellow devs and employees. Y'all need to stop being so nice. Your founder isn't. You need to stop trying to play fair, your founder isn't. You need to put the people you work with on a higher level than your founder and get over this appeal to authority.
- bobthepanda 6y agoGenerally if you’re doing that, you want to make the first move, and you probably don’t want the first move to be exposing yourself to a libel suit.
- tcbawo 6y agoWho would people believe? The CEO or a disgruntled former employee?