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It's a pity that Henry Ward is handling this issue so poorly, and lacking the necessary transparency. The hard truth is that Carta sits on a potentially huge s
by simonebrunozzi 3y ago
It's a pity that Henry Ward is handling this issue so poorly, and lacking the necessary transparency.
The hard truth is that Carta sits on a potentially huge source of revenues (secondary market), and therefore it is very tempting to "screw" existing customers in order to multiply its income. Easier to go public (IPO), or be acquired, when you have a "growth" story.
- alsodumb 3y agoAnd the important detail is that the secondary revenue source only exists if startups keep trusting them with their cap table data - I don't know how hard it would be to migrate providers with cap table info but I guess we will hear about it in the next few days/weeks.
- Aurornis 3y ago> It's a pity that Henry Ward is handling this issue so poorly, and lacking the necessary transparency. This feels like a CEO who has been able to put a spin on things and control the narrative in small circles (his board, his staff, his peers, his friends) that he thought he could do the same in the court of public opinion. But the public doesn’t care if Henry likes them and their jobs don’t depend on agreeing with him. The usual tactics of putting on a big smile and explaining it away aren’t working, and he keeps digging deeper with his usual bag of reality-distortion tricks that just don’t work on public audiences.
- choppaface 3y agoAnd it's a habit of his apparently to Streisand himself: https://techcrunch.com/2023/10/25/cartas-ceo-reaches-out-to-customers-about-bad-press-alerting-them-to-bad-press/ https://techcrunch.com/2023/10/25/cartas-ceo-reaches-out-to-...