4 ms·

And what will the damages be? Tort claims require a showing of harm.

monero-xmr 3y ago
Someone chooses not to invest and you can convince a judge they would have if not for Carta. Could make all sorts of theoretical arguments on damage amounts. Only matters is what you convince the judge.
- staticautomatic 3y ago
  You mean someone chooses not to invest because your cap table is on Carta?
  - monero-xmr 3y ago
    The root issue is that your cap table is a key piece of information and guarded zealously. If Carta is letting sales and marketing people access it, there is definitely a backdoor where connected people are using it for inside information - deciding who to invest and not invest in, inside information on competing VC firms, and likely actionable intel about acquisitions and corporate VC useful for insider trading. Carta has a honeypot of extremely sensitive information. If they are loose on who has access and for what purpose, then I find it almost certain that well connected VCs are getting information out. Something like this going on for so long will have a paper trail. Given the money at stake it's likely someone is going to get the subpoena power and figure it all out.
    - logiduck 3y ago
      Seems like a stretch of the imagination. VC funding is already bone-dry so there are about 1000 different reasons not to get funding as it is. VCs are only investing in strong conviction plays. I'm skeptical that an investor would have strong enough conviction to want to fund you and then back out if you use Carta and put that in writing as the sole reason for not investing. Even then the onus is pretty big for demonstrating damages for lost opportunity rather than direct financial losses. For example if you called your broker to put in a trade and they missed it and the stock 10x the next day, your SOL even though there is a theoretical missed financial windfall. its a different story if you asked them to close a position, they didn't and then you lost money since the latter actually has tangible losses as opposed to missed theoretical gains.
      - monero-xmr 3y ago
        40k cap tables of VC backed companies in a variety of industries and verticals is valuable. If you sat in a room with this data for a few days I'm sure any smart person could think of interesting ways to monetize it. I believe this has occurred at Carta and the truth will come out, to Carta's detriment.
- DannyBee 3y ago
  This is not how damages work. While the last sentence is kind of correct it also can be applied to anything, making it pointless. Ie you can equally say "Carta could make all sorts of theoretical arguments your lawsuit is bogus, only matters is what you convince a judge". In this case there is literally centuries of precedent that will be followed or the judge will be overturned easily. I have no idea why you are doubling down on a thing you appear to not know a lot about rather than just admit you don't know. You dont learn things this way and you don't look better to anyone who reads the comment.
  - monero-xmr 3y ago
    My company got nailed by a judge in rural NY because someone suing us convinced him. The damages were absurd for the situation and based upon insane logic. Was cheaper to pay the judgement than appeal. Not sure why you think your know more than me considering I paid it.
    - CyberDildonics 3y ago
      nailed by a judge in rural NY because someone suing us convinced him I'm not a lawyer, but I think that's how the legal system works. damages were absurd cheaper to pay the judgement than appeal Seems like a contradiction.
      - monero-xmr 3y ago
        It was a complex situation regarding a fintech SaaS and to appeal high enough to a court with actual expertise that’s not going to railroad us could have cost a lot. Plus our time and the chance the damages get worse. All these legal eagles who think the courts operate with strict precision have no idea how things actually work. Hope everyone who has some glorified view of reality gets to actually pay for this beautiful system out of their own pocket.
    - DannyBee 3y ago
      I'm a lawyer? I also lived in rural new York for years and my ex wife clerked for a judge where we were So in familiar with the law and most of the areas between white plains and ~Rochester You are meanwhile complaining about a decision you didn't try to get fixed. Why don't you share the case info and I'll take a look.

Someone chooses not to invest and you can convince a judge they would have if not for Carta. Could make all sorts of theoretical arguments on damage amounts. Only matters is what you convince the judge.

staticautomatic 3y ago
You mean someone chooses not to invest because your cap table is on Carta?
- monero-xmr 3y ago
  The root issue is that your cap table is a key piece of information and guarded zealously. If Carta is letting sales and marketing people access it, there is definitely a backdoor where connected people are using it for inside information - deciding who to invest and not invest in, inside information on competing VC firms, and likely actionable intel about acquisitions and corporate VC useful for insider trading. Carta has a honeypot of extremely sensitive information. If they are loose on who has access and for what purpose, then I find it almost certain that well connected VCs are getting information out. Something like this going on for so long will have a paper trail. Given the money at stake it's likely someone is going to get the subpoena power and figure it all out.
  - logiduck 3y ago
    Seems like a stretch of the imagination. VC funding is already bone-dry so there are about 1000 different reasons not to get funding as it is. VCs are only investing in strong conviction plays. I'm skeptical that an investor would have strong enough conviction to want to fund you and then back out if you use Carta and put that in writing as the sole reason for not investing. Even then the onus is pretty big for demonstrating damages for lost opportunity rather than direct financial losses. For example if you called your broker to put in a trade and they missed it and the stock 10x the next day, your SOL even though there is a theoretical missed financial windfall. its a different story if you asked them to close a position, they didn't and then you lost money since the latter actually has tangible losses as opposed to missed theoretical gains.
    - monero-xmr 3y ago
      40k cap tables of VC backed companies in a variety of industries and verticals is valuable. If you sat in a room with this data for a few days I'm sure any smart person could think of interesting ways to monetize it. I believe this has occurred at Carta and the truth will come out, to Carta's detriment.
DannyBee 3y ago
This is not how damages work. While the last sentence is kind of correct it also can be applied to anything, making it pointless. Ie you can equally say "Carta could make all sorts of theoretical arguments your lawsuit is bogus, only matters is what you convince a judge". In this case there is literally centuries of precedent that will be followed or the judge will be overturned easily. I have no idea why you are doubling down on a thing you appear to not know a lot about rather than just admit you don't know. You dont learn things this way and you don't look better to anyone who reads the comment.
- monero-xmr 3y ago
  My company got nailed by a judge in rural NY because someone suing us convinced him. The damages were absurd for the situation and based upon insane logic. Was cheaper to pay the judgement than appeal. Not sure why you think your know more than me considering I paid it.
  - CyberDildonics 3y ago
    nailed by a judge in rural NY because someone suing us convinced him I'm not a lawyer, but I think that's how the legal system works. damages were absurd cheaper to pay the judgement than appeal Seems like a contradiction.
    - monero-xmr 3y ago
      It was a complex situation regarding a fintech SaaS and to appeal high enough to a court with actual expertise that’s not going to railroad us could have cost a lot. Plus our time and the chance the damages get worse. All these legal eagles who think the courts operate with strict precision have no idea how things actually work. Hope everyone who has some glorified view of reality gets to actually pay for this beautiful system out of their own pocket.
  - DannyBee 3y ago
    I'm a lawyer? I also lived in rural new York for years and my ex wife clerked for a judge where we were So in familiar with the law and most of the areas between white plains and ~Rochester You are meanwhile complaining about a decision you didn't try to get fixed. Why don't you share the case info and I'll take a look.