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I've read some version of something like this a few times over the last while, and I don't really understand it. You typically vest the option to buy shares, se
by neom 2y ago
I've read some version of something like this a few times over the last while, and I don't really understand it. You typically vest the option to buy shares, separately; when you leave a company, they may ask you to sign additional agreements. You can just walk out the door, but what they often do is say they will vest all your equity to the end of the vesting schedule if you sign it. I've never done that in my career, and I don't feel bad about leaving money on the table. I was fine with what I had and didn't want additional obligations to the company when I left. This is normal stuff...?
- jsnell 2y agoOpenAI doesn't give shares or options. They give "profit participation units". They had agreements in place that allowed them to cancel the already vested PPUs if the employer didn't sign a draconian non-disparagement agreement, the contents of which were only revealed to them when they left. (Not when they signed the employement agreement.) OpenAI has admitted that the contracts really did contain those clauses. They're just claiming that they'd obviously never enforce those clauses, and that the clauses were put in by some rogue employees without the knowledge of the leadership.
- neom 2y agoIt's always exotic with them huh? ;) So then is this fake news or moot news or...? Now I'm confused.