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"Startups also granted Newchip the right to buy $250,000 worth of shares in the company at a later date, but at their current valuation"
by atherton33 2y ago
"Startups also granted Newchip the right to buy $250,000 worth of shares in the company at a later date, but at their current valuation"
- jojobas 2y agoSo the company was essentially signed away even before the bankruptcy.
- atherton33 2y agoYup. The bankruptcy just transferred the right to exploit it from the mildly incompetent to expertly ruthless.
- irjustin 2y agoYeah this is a pretty bad and far far far from founder friendly.
- deleted 2y ago[deleted]