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Here is the funny thing. People want to throw shade at the investors, but Buzzfeed staff themselves frothed when they couldn't sell off their stake in the compa

Here is the funny thing. People want to throw shade at the investors, but Buzzfeed staff themselves frothed when they couldn't sell off their stake in the company. https://www.newyorker.com/news/annals-of-communications/how-former-buzzfeed-employees-missed-their-big-payday https://www.newyorker.com/news/annals-of-communications/how-... "As it turned out, for many former employees, it was all too good to be true. This past Monday, as BuzzFeed went public, many of them learned something alarming: they weren’t able to trade the stock that they had waited years to exercise." When you have skin in the game it aligns interests.

robocat 5y ago
https://archive.ph/nVEYM https://archive.ph/nVEYM “As the markets opened on December 6th, former BuzzFeed employees contacted their brokerages to initiate trades, but later found out that the type of stock they held, known as Class B, couldn’t be publicly traded yet. That evening, Continental, a stock-transfer company that BuzzFeed had engaged to facilitate the spac merger, sent an e-mail informing former employees that, in order to trade their Class B shares, they would have to convert them into Class A shares. In order to complete the process—which would take three to five business days—former employees were informed, they would need to print the e-mail, sign, scan, and return it.”. “An e-mail circulating among former employees this past week raised the question of whether they could have a legal case. “This is rotten and definitely slimey, but I have not figured out if it’s illegal,” a person wrote. When asked whether anything illegal had occurred, Matt Mittenthal, a spokesman for BuzzFeed, said ‘of course not.’”. And this only applies to past employees that exercised their options - paying some money and taxes for their equity.
- RonaldOlzheim 5y ago
  Hello, I´m trying to connect with you on Linkedin. Can you send me a message? Ronald.
  - robocat 5y ago
    I’m pretty sure you have got the wrong person: I don’ t have a LinkedIn account. I am a JavaScript dev from Christchurch, New Zealand.
simulate-me 5y ago
Why do the interests of former employees need to be aligned?
s1artibartfast 5y ago
I don't really understand the proposal that employees deserve shade in this situation.

robocat 5y ago

https://archive.ph/nVEYM https://archive.ph/nVEYM “As the markets opened on December 6th, former BuzzFeed employees contacted their brokerages to initiate trades, but later found out that the type of stock they held, known as Class B, couldn’t be publicly traded yet. That evening, Continental, a stock-transfer company that BuzzFeed had engaged to facilitate the spac merger, sent an e-mail informing former employees that, in order to trade their Class B shares, they would have to convert them into Class A shares. In order to complete the process—which would take three to five business days—former employees were informed, they would need to print the e-mail, sign, scan, and return it.”. “An e-mail circulating among former employees this past week raised the question of whether they could have a legal case. “This is rotten and definitely slimey, but I have not figured out if it’s illegal,” a person wrote. When asked whether anything illegal had occurred, Matt Mittenthal, a spokesman for BuzzFeed, said ‘of course not.’”. And this only applies to past employees that exercised their options - paying some money and taxes for their equity.

RonaldOlzheim 5y ago
Hello, I´m trying to connect with you on Linkedin. Can you send me a message? Ronald.
- robocat 5y ago
  I’m pretty sure you have got the wrong person: I don’ t have a LinkedIn account. I am a JavaScript dev from Christchurch, New Zealand.

simulate-me 5y ago

Why do the interests of former employees need to be aligned?

s1artibartfast 5y ago

I don't really understand the proposal that employees deserve shade in this situation.