3 ms·

but at the end of the day, the haggling ended, and terms were agreed upon (it seems). Handshakes done. I think the comments have gone off on a tangent focusing

by someear 11y ago

but at the end of the day, the haggling ended, and terms were agreed upon (it seems). Handshakes done. I think the comments have gone off on a tangent focusing on whether you getting cut out of the deal was ethical (whereas the blog post was just a flat out interesting story to read about). But at least the way your post reads, you definitely got screwed out of the deal. Sure, nothing is done until things are signed, but as many investors have told me "my reputation is everything". Seems like it should go both ways. This certainly doesn't reflect positively on the founders.

PopeOfNope 11y ago
> Handshakes done. Nothing's done until the papers are signed. This goes for all things in life, too, from investing to renting apartments. If you don't have a signed piece of paper, you have no deal.
- plonh 11y ago
  One of the main selling points of YC is that they promise not to legal obnoxious things. Saying "nothing's done until the papers are signed" is completely missing the point.
  - PopeOfNope 11y ago
    is this comment a non-sequitur or am I missing something? The deal we're talking about was between the author of the piece and Airbnb. YC may have made the offer to fund the whole round, but they're not the ones who made the decision to pull out between shaking hands and signing the paper. In any case, I apparently place too high a premium on paperwork. In another comment thread on this story, someone pointed out that the remedy for breach of contract is to unwind the wrong party's situation to the position they were in before the contract was signed. In this case, until the check has been deposited and spent, it's trivial to tear up the paperwork.
- dkrich 11y ago
  This isn't factually accurate. You can have an implied contract from exchanged emails, verbal communication- pretty much anything that shows intent.
- s73v3r 11y ago
  Yes, but going back on a deal once you've agreed makes you a dick, signed or not signed.

by someear 11y ago

PopeOfNope 11y ago

> Handshakes done. Nothing's done until the papers are signed. This goes for all things in life, too, from investing to renting apartments. If you don't have a signed piece of paper, you have no deal.

plonh 11y ago
One of the main selling points of YC is that they promise not to legal obnoxious things. Saying "nothing's done until the papers are signed" is completely missing the point.
- PopeOfNope 11y ago
  is this comment a non-sequitur or am I missing something? The deal we're talking about was between the author of the piece and Airbnb. YC may have made the offer to fund the whole round, but they're not the ones who made the decision to pull out between shaking hands and signing the paper. In any case, I apparently place too high a premium on paperwork. In another comment thread on this story, someone pointed out that the remedy for breach of contract is to unwind the wrong party's situation to the position they were in before the contract was signed. In this case, until the check has been deposited and spent, it's trivial to tear up the paperwork.
dkrich 11y ago
This isn't factually accurate. You can have an implied contract from exchanged emails, verbal communication- pretty much anything that shows intent.
s73v3r 11y ago
Yes, but going back on a deal once you've agreed makes you a dick, signed or not signed.