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Does it also feel like you showed your hand and all they had to do was ante to see it? I’d be very anxious about getting screwed by unsavoury actors.
by Waterluvian 2y ago
Does it also feel like you showed your hand and all they had to do was ante to see it? I’d be very anxious about getting screwed by unsavoury actors.
- mtlynch 2y agoIn this case, that wasn't that much of a concern. I felt like the buyer had the skills to grow TinyPilot from $1M to $10M+, but he didn't have a technical background, so he'd have a hard time recreating the business from scratch even if he had access to a lot of our secret sauce. If I were selling to a direct competitor, I would have had to be a lot more protective about trade secrets. I could make them sign contracts saying that they wouldn't use the information against me if the deal falls through, but I'd have a hard time enforcing it, and the cost of suing them would probably be higher than anything I'd hope to extract for a contract breach.