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Listen Eduardo Saverin: FIRST THING GET YOUR OWN LAWYER AND TALK TO THEM NOW! The key question here is : do you have equity, and how much equity do you have
by hoodoof 13y ago
Listen Eduardo Saverin:
FIRST THING GET YOUR OWN LAWYER AND TALK TO THEM NOW!
The key question here is : do you have equity, and how much equity do you have in percentage terms?
If you are an equal cofounder, then when someone turns up and says "you have to leave cause better people have been employed", you say "fuck off". Think about it - EVERY company that grows will employ people who are better than the cofounders in some way, that is the whole point. You are the FOUNDER, you brought value to the company early. Just because smarter or more experienced people have been employed in no way devalues what you did in the early stages. In fact this is PRECISELY what is meant to happen. Do you think that Zuckerberg is the best developer at Facebook - legend may say so but it's not true - can't be. So should Zuck be fired cause he's not their strongest tech guy?
You also need to think separately about your rights as employee and rights as a shareholder/owner - they are not the same thing. You DO have clear contracts as both employee and shareholder DON'T YOU? Those contracts specify (or should specify) your rights.
And who the fuck does this guy think he is that he can tell a cofounder to leave? You are his BOSS.
DO NOT LEAVE. And if you do leave, DO NOT SELL YOUR SHARES IN THE COMPANY - just say "I want a MASSIVE payout to accept being fired, and I WILL NOT sell my shares as part of settlement". Hang on to those shares because now these guys are going to do all the hard work in growing the company and you can chill out and do other things and when they IPO, you'll take home your share. And if this is the path you take, look out cause some time in the future they will try to play a legal game in which you hang on to your shares but they get diluted down to almost nothing. This cannot happen if you are careful to look out for it.
This is all on the assumption that you do have equity and contracts in place. If you don't, then you should go and watch "The Social Network" repeatedly until you learn your lesson.
- pedrosorio 13y ago"Do you think that Zuckerberg is the best developer at Facebook - legend may say so but it's not true" What is this legend? I think everybody is aware of the fact that the infrastructure that allowed facebook to scale was not (and probably could not have been) built by Zuckerberg. He had guys like Adam D'Angelo working for him from the beginning.
- hoodoof 13y agoThe employees of tech companies with charismatic leaders sometimes elevate their Great Leader to legendary status in their field of expertise, whether its true or not. Worshipping is part of the tech company cult thing - you do see the parallel of course with cults and tech firms? There will be plenty who believe the Zuck is the best coder there or amongst the best at least.
- hga 13y agoHe's more like the Bill Gates of the company. Has serious technical chops, and knew that technical thing like scaling were not optional. Compare to the object lesson of competitor Friendster, where the people running it after they ousted the computer programmer founder ignored that minor detail....
- patrickmay 13y ago> And who the fuck does this guy think he is that he can tell a cofounder to leave? You are his BOSS. This is the key point. OP founded the company. Presumably he has close to a 50% equity stake. There are other CTOs available -- ditch this one you can't trust immediately.