3 ms·
This is why I never take equity. It's just a way to dangle a carrot in front of an employee to make them think they will get a big pay day. Many times, the em
by paulhauggis 12y ago
This is why I never take equity. It's just a way to dangle a carrot in front of an employee to make them think they will get a big pay day. Many times, the employee doesn't want to quit because this pay day is seemingly right around the corner.
My previous employer gave me stock options on top of my salary. I never really cared about the stock options too much. A few months ago, I found out the owner created a new LLC (and moved the company to this new LLC) essentially making my options worthless overnight.
I would rather get paid my true market value.
- chrisabrams 12y agoa good employment contract would cover this scenario...best to make friends with an attorney in the field :)
- Kalium 12y agoWhere would one go to set about purchasing beer for such a new friend?
- chrisabrams 12y agoAlso, did you sign an employment contract with the new LLC? If not, then you own the IP you create, not the new LLC, assuming the old entity was dissolved.
- danielweber 12y agoMany times, the employee doesn't want to quit because this pay day is seemingly right around the corner. Seen this way way too many times. I've fell victim to it myself, staying at someplace for too long. I've never regretted leaving a place too soon.