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That would be the naive mathematical interpretation and how the system would work if engineers designed it. Lawyers designed it, though, and they probably know
by immibis 2y ago
That would be the naive mathematical interpretation and how the system would work if engineers designed it. Lawyers designed it, though, and they probably know some tricks to make that not happen.
- fnbr 2y agoLike what? All the examples people have said are where either 1) the company has Nx preferences, for N >1, in which case the company has essentially failed to fundraise or 2) the company sells for less than they raised, which again, is a polite form of failure.
- cyanydeez 2y agolets no degrade lawyers more than necessary. Business people hired lawyers to design means and methods to commit _implicit_ fraud and deceptive practices to improve the value of their capital assets. Those lawyers then go on to sell this product to others. I'm sure there's some lawyers out there that are going out there shopping this stuff around, but it's Capitalism and Business thats the active agent, not Lawyers.
- guappa 2y agoYou think engineers never scam?
- Der_Einzige 2y agoNot like lawyers, dentists, car salesmen, etc do!