3 ms·

Guess what I wrote in the thread yesterday can't be wrong either way: https://news.ycombinator.com/item?id=38888060 https://news.ycombinator.com/item?id=3888806

Guess what I wrote in the thread yesterday can't be wrong either way: https://news.ycombinator.com/item?id=38888060 https://news.ycombinator.com/item?id=38888060 Sure is starting to look like they cooked their own goose. How can the CEO state with a straight face that "it's a separate company" but they can "self-approve" (he doesn't even know?? Why would you even agree to hop on a call with a customer without knowing. Come on.) to breakglass access everyone's cap table? They're fucked. Not looking forward to all the email threads I'm going to see on Monday. Didn't have this one inked on the Q1 plan. Now we're all wondering what other shenanigans they're likely pulling.

altdataseller 3y ago
What do you mean by they’re fucked? In what sense? In that customers may stop using Carta? If so they probably will not suffer the consequences that badly If it’s legal and only if it’s legal and the whole company has to be broken apart will they suffer for this. But I’m not sure how they’re breaking any legal laws?
- xyzzy_plugh 3y ago
  It doesn't matter if it's legal. No founder in their right mind would use them if this is how they act. Many angels will not want to touch this. Many investors will be rightly pissed off. But I also doubt that it is legal. I am not a lawyer but I'm sure over the next week plenty of lawyers will be reviewing the same documents that I have read, and it doesn't seem like this is above board. I'm sure their legal team is scrambling to contain this before any discovery arrives. Carta depends, critically, on it's reputation as a secure and trustworthy platform. By any measure they appear to have violated that trust.
- _xivi 3y ago
  > In what sense? In that customers may stop using Carta? If so they probably will not suffer the consequences that badly Are you saying Carta doesn't give a fuck about their customers? Wow, lol. You (ironically?) hit the nail on the head. Anyway, they're not pissing off just the ones you see directly affected here, each one of those will likely advocate against them in his/her own circle, and any business they might be involved with in the future. Also, these discussions and this incident, will live on the internet forever. Carta's brand, and their CEO's reputation will remain tainted, no matter how trivial you might view this, and it will be a golden edge for their competitors. They'll experience the power of the almighty Word-of-mouth marketing but going downhill.
  - altdataseller 3y ago
    No I’m saying them losing 50% of their customers isn’t enuff justice for what they did. They deserve to go out of business or be broken apart.

altdataseller 3y ago

What do you mean by they’re fucked? In what sense? In that customers may stop using Carta? If so they probably will not suffer the consequences that badly If it’s legal and only if it’s legal and the whole company has to be broken apart will they suffer for this. But I’m not sure how they’re breaking any legal laws?

xyzzy_plugh 3y ago
It doesn't matter if it's legal. No founder in their right mind would use them if this is how they act. Many angels will not want to touch this. Many investors will be rightly pissed off. But I also doubt that it is legal. I am not a lawyer but I'm sure over the next week plenty of lawyers will be reviewing the same documents that I have read, and it doesn't seem like this is above board. I'm sure their legal team is scrambling to contain this before any discovery arrives. Carta depends, critically, on it's reputation as a secure and trustworthy platform. By any measure they appear to have violated that trust.
_xivi 3y ago
> In what sense? In that customers may stop using Carta? If so they probably will not suffer the consequences that badly Are you saying Carta doesn't give a fuck about their customers? Wow, lol. You (ironically?) hit the nail on the head. Anyway, they're not pissing off just the ones you see directly affected here, each one of those will likely advocate against them in his/her own circle, and any business they might be involved with in the future. Also, these discussions and this incident, will live on the internet forever. Carta's brand, and their CEO's reputation will remain tainted, no matter how trivial you might view this, and it will be a golden edge for their competitors. They'll experience the power of the almighty Word-of-mouth marketing but going downhill.
- altdataseller 3y ago
  No I’m saying them losing 50% of their customers isn’t enuff justice for what they did. They deserve to go out of business or be broken apart.