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Maybe, but there are levels to the game. The CEO has legal rights to fire cofounders, often with the board on their side. Early stage this doesnt get exercised
by mikert89 1y ago
Maybe, but there are levels to the game. The CEO has legal rights to fire cofounders, often with the board on their side. Early stage this doesnt get exercised often. But when the CTO has ten million of equity to vest over two more years, questions get asked behind closed doors about whether they are worth that amount. Thats when the "professional CTO" is brought in. Its extremely common, and letting him vest that amount is coming out of the pocket of the CEO and the investors
- palata 1y ago> The CEO has legal rights I don't think that anything in the law says that if your title is "CEO", then you can fire cofounders. I'm guessing it depends on the contract the cofounders sign in the beginning. > often with the board on their side I have seen the CTO convince the board to fire his cofounder who was more the CEO? Well I don't know if the titles were written in the contracts, they changed over the years. But the guy who got his cofounder fired went from calling himself CTO to calling himself co-CEO to getting his "buddy" fired.