3 ms·
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
by 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.