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I had a similar experience, a VC bought "preferred stock" (I can't remember the exact jargon), when the company was sold, the payout went entirely to the VC, an
by malbs 15y ago
I had a similar experience, a VC bought "preferred stock" (I can't remember the exact jargon), when the company was sold, the payout went entirely to the VC, and no standard stock holders received anything.
- jpdoctor 15y ago> (I can't remember the exact jargon) And this is how most people are screwed. Most folks receive options and never even see the financing docs or stock plan, so they don't have a shred of knowledge about the capital structure. (Not picking on you, except by way of example. Your situation is all-too-common.)
- malbs 15y agoyeah I definitely walked into it with my eyes closed. My wife was telling me it was a bad idea, and I still didn't listen, but hey, who listens to their wife right? haha
- georgemcbay 15y agoPoor bastard. I'm sure every time you disagree with her about something you get to hear about how she was right about the stock options.
- nerd_in_rage 15y agoyes, this happened to me, too. shocking. ;) not really. it's pretty expected. stock options are lottery tickets.
- danssig 15y agoNo way, they're much worse than lottery tickets. They're lottery tickets that even if you do win, some jerk can come along and make your winning ticket worth nothing after the fact.