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> if the tokens have "no value", But if you can exchange tokens for prizes, clearly the tokens do have value. 1 token = piece of bubble gum, 10 tokens = keych
by Beldin 4y ago
> if the tokens have "no value",
But if you can exchange tokens for prizes, clearly the tokens do have value. 1 token = piece of bubble gum, 10 tokens = keychain, 5000 tokens = fluffy unicorn. Etc.
Basically, I don't see why the fig leaf would work in the first place...
- phamilton 4y agoSomewhat related, I once had a job offer at an early startup and wanted to adjust the equity/salary ratio a bit. I asked "How much more equity could I get per $1k drop in salary?" The founder liked that framing but when he went to go get legal to approve they shut it down saying that putting a direct dollar amount on equity would throw a huge wrench into 409a valuations. So while things have value, anchoring that value to a dollar amount is a different story.