4 ms·
> That's setting the bar rather low, isn't it? Based upon my own experience, I would say that a founder honoring a very expensive agreement, made before the co
by downandout 11y ago
> That's setting the bar rather low, isn't it?
Based upon my own experience, I would say that a founder honoring a very expensive agreement, made before the company was highly successful, isn't a low bar at all. It's an exception to the rule; look at what Zynga did as an example [1]. They'll agree to whatever they have to in order to get people to work, and then use any money, power, and influence they wind up with as a result of that work to try to unravel those agreements should the company succeed.
IMO this move makes Nick Woodman a decent guy in a sea of fairly greedy and unethical people (the kinds of people that seem to make it to billionaire status).
[1] http://www.wsj.com/article_email/SB10001424052970204621904577018373223480802-lMyQjAxMTAxMDAwOTEwNDkyWj.html http://www.wsj.com/article_email/SB1000142405297020462190457...
- scarmig 11y agoIt certainly makes the expected value of equity in new start-ups that Woodman does about ten times more valuable than what you see at most places.