4 ms·

Honestly? I think this is the execs trying to grab as much stock as possible for themselves pre-IPO, so they can dump it and run. There's no way that this actu

by cheald 15y ago

Honestly? I think this is the execs trying to grab as much stock as possible for themselves pre-IPO, so they can dump it and run. There's no way that this actually turns out to be a net positive for the Company. It's going to make it significantly harder to hire actual talent, it's going to cause morale decay and revolt from within the company, and it erodes Zynga's brand. Literally the only benefit here is that the execs end up with more stock when the IPO happens.

samstave 15y ago
>I think this is the execs trying to grab as much stock as possible for themselves pre-IPO, so they can dump it and run. This is EXACTLY what is happening - anyone who thinks otherwise is deluded or plain stupid. When Lockheed bought Savi technology, the RFID company, there were massive stock bonuses given out to the the Savi execs just prior to the sale. Then they told all the employees who had been there less than 18 months they would get NOTHING for the shares they were hired on with as incentive. All the other employees were given 15% of what the company had been claiming the street price of the options were. PLUS they held some significant % of the stock value in an escrow account for some number of months should there be a legal backlash and Lockheed were sues - they were to use the escrow share money on that case... Pincus is a very very VERY shady character. Yet another IPO that I would never touch purely on principal alone. Who wants to be Goldman will be taking this IPO?
- qx 15y ago
  "Pincus is a very very VERY shady character" Any examples of this? Not that I don't believe you, but just curious
  - keeran 15y ago
    http://blogs.sfweekly.com/thesnitch/2010/09/zynga_pincus_copy_games.php http://blogs.sfweekly.com/thesnitch/2010/09/zynga_pincus_cop... Tells his team to steal game ideas, makes millions in the process then shafts the people who made it happen for him. Would love to hear from someone who can paint him in a better light than the horrible individual I have in mind at the moment.
    - kamaal 15y ago
      This isn't surprising, not everybody in the game is for building something or for changing the world or for passion. Someone is here only for the money multiplication factor. Sales, advertising, marketing and your usual MBA subjects are all about that. That is, not to care about what you are selling, but to create an illusion which gives an opportunity to amplify that seed investment. That is the time to cash on and move on.
      - samstave 15y ago
        >not everybody in the game is for building something or for changing the world or for passion. You fucking suck. I am not clear if youare advocating these actions or not - but let me make it very clear to you; if you are a proponent of such behavior - lets make sure we never cross paths. This is NOT OK. People like this are CANCER. Sure - many instances of CEOs end up in the position of a Pincus - but it DOES NOT make it ok. Pincus is a detriment not a person to be idolized.
        epo 15y ago
        The guy is telling it how it is, you are behaving like an 11 year-old. The world is not a nice place, it gets less nice when money is involved, grow up.
        tripzilch 15y ago
        You're both right. Just because "it is how it is" doesn't make something OK, as you say the world is not a nice place, but it also doesn't mean you have to sit down and take it like a cabbage either. And it's perfectly fine to tell people with questionable moral values to go and fuck themselves. Even though it's not always the most strategically sound way to make sure they get what they got coming in a world that is indeed not a very nice place at all.
        mseebach 15y ago
        There's a bloody big leap from "screwing employees over stock options" over "excessive 'inspiration' from competition" to "not in it to change the world with a passion". Replying "you fucking suck" to someone taking the position that it's actually OK to go and do a job without having passion and unicorns and rainbows flow out of your ass all day is not the opposite of "taking it like a cabbage", it's the opposite of civilized discourse.
  - davidmathers 15y ago
    http://techcrunch.com/2009/11/06/zynga-scamville-mark-pinkus-faceboo/ http://techcrunch.com/2009/11/06/zynga-scamville-mark-pinkus...
michaelochurch 15y ago
Honestly? I think this is the execs trying to grab as much stock as possible for themselves pre-IPO, so they can dump it and run. Seems likely. Zynga is an obvious build-to-flip. Now is the time to cash it in at peak. The original push in social gaming was based on scaling, but people are starting to demand quality and that's where Zynga is going to die.
Mordor 15y ago
My thoughts too, they only want the stock for themselves.

by cheald 15y ago

samstave 15y ago

>I think this is the execs trying to grab as much stock as possible for themselves pre-IPO, so they can dump it and run. This is EXACTLY what is happening - anyone who thinks otherwise is deluded or plain stupid. When Lockheed bought Savi technology, the RFID company, there were massive stock bonuses given out to the the Savi execs just prior to the sale. Then they told all the employees who had been there less than 18 months they would get NOTHING for the shares they were hired on with as incentive. All the other employees were given 15% of what the company had been claiming the street price of the options were. PLUS they held some significant % of the stock value in an escrow account for some number of months should there be a legal backlash and Lockheed were sues - they were to use the escrow share money on that case... Pincus is a very very VERY shady character. Yet another IPO that I would never touch purely on principal alone. Who wants to be Goldman will be taking this IPO?

qx 15y ago
"Pincus is a very very VERY shady character" Any examples of this? Not that I don't believe you, but just curious
- keeran 15y ago
  http://blogs.sfweekly.com/thesnitch/2010/09/zynga_pincus_copy_games.php http://blogs.sfweekly.com/thesnitch/2010/09/zynga_pincus_cop... Tells his team to steal game ideas, makes millions in the process then shafts the people who made it happen for him. Would love to hear from someone who can paint him in a better light than the horrible individual I have in mind at the moment.
  - kamaal 15y ago
    This isn't surprising, not everybody in the game is for building something or for changing the world or for passion. Someone is here only for the money multiplication factor. Sales, advertising, marketing and your usual MBA subjects are all about that. That is, not to care about what you are selling, but to create an illusion which gives an opportunity to amplify that seed investment. That is the time to cash on and move on.
    - samstave 15y ago
      >not everybody in the game is for building something or for changing the world or for passion. You fucking suck. I am not clear if youare advocating these actions or not - but let me make it very clear to you; if you are a proponent of such behavior - lets make sure we never cross paths. This is NOT OK. People like this are CANCER. Sure - many instances of CEOs end up in the position of a Pincus - but it DOES NOT make it ok. Pincus is a detriment not a person to be idolized.
      - epo 15y ago
        The guy is telling it how it is, you are behaving like an 11 year-old. The world is not a nice place, it gets less nice when money is involved, grow up.
        tripzilch 15y ago
        You're both right. Just because "it is how it is" doesn't make something OK, as you say the world is not a nice place, but it also doesn't mean you have to sit down and take it like a cabbage either. And it's perfectly fine to tell people with questionable moral values to go and fuck themselves. Even though it's not always the most strategically sound way to make sure they get what they got coming in a world that is indeed not a very nice place at all.
        mseebach 15y ago
        There's a bloody big leap from "screwing employees over stock options" over "excessive 'inspiration' from competition" to "not in it to change the world with a passion". Replying "you fucking suck" to someone taking the position that it's actually OK to go and do a job without having passion and unicorns and rainbows flow out of your ass all day is not the opposite of "taking it like a cabbage", it's the opposite of civilized discourse.
- davidmathers 15y ago
  http://techcrunch.com/2009/11/06/zynga-scamville-mark-pinkus-faceboo/ http://techcrunch.com/2009/11/06/zynga-scamville-mark-pinkus...

michaelochurch 15y ago

Honestly? I think this is the execs trying to grab as much stock as possible for themselves pre-IPO, so they can dump it and run. Seems likely. Zynga is an obvious build-to-flip. Now is the time to cash it in at peak. The original push in social gaming was based on scaling, but people are starting to demand quality and that's where Zynga is going to die.

Mordor 15y ago

My thoughts too, they only want the stock for themselves.