<i>During my interview process I was told 3 different times by the CEO that there was a vehicle setup for employees to sell shares back to the investors of the company (namely usv and spark). It turns out that this was a complete sham and sales job. I’m not the only person who’s been told this during interviews (the person who replaced me as head of tech was similarly surprised to find out it doesn’t exist).</i><p>That's really bad. Perhaps Dan should have done a bit more homework on this alleged vehicle, rather than taking the CEO's statements at face value. Perhaps he should even have got something in writing. But it's undeniably dishonest of the CEO to have said this when it wasn't true.<p><i>But really, these are the employees who helped build your business, and ripping them off of earned options to the tune of 20% is shit.</i><p>But that's the deal. Options are there to entice people to join a company, and to stay there. Once someone has decided to leave, the options have failed in their purpose. Why would the company give away money once that has happened? If it was part of the deal that they would, then sure, they should. But it isn't part of the deal.<p><i>This isn’t an “employees need to learn more about options” problem.</i><p>Yeah, it is.
From the linked Fred Wilson article:<p><i>Let’s say that you want to hire a top software engineer and are competing with equity grant offers from Facebook and Google where the value of the grant is $1mm.</i><p>Do Facebook and Google really offer engineers a million dollars worth of stock? For what level of engineer? Vesting over what period? Do other big tech companies offer similar amounts?<p>As a London-resident developer (who doesn't work for a hedge fund), i'm used to salaries here being considerably lower than in Silicon Valley, but if that number is on the mark, the difference in stock options is even bigger.
Dan is a total fucking moron - impulsive, know it all that is nothing more than a two bit dev ops back office it guy. Get a life dan....as you said you cant even exercise some options at this point - no surprise that you haven't had a success. Victim, no one owes you anything. Be thankful that you even conversed with fred cause thats the closest you will be to success.<p>your the worst example of a self serving tech guy with expectation of entitlement. Thanks for tanking peek after blowing 32 mill in capital...<p>retard retard retard
Not sure if your complaining or explaining...
exercise your options you left role, what else are you expecting....be happy ceo was clear with you many are not, especially where i live