[codexon]

A boss can fire you even if you are bringing in a profit. All it takes is 1 bad day, or a mistaken belief that someone from India can do the same job for half the price.

If you are the owner, it doesn't matter if one or two customers are hard to deal with. All you do is stop selling to them, and you will most likely still be in business.

[tptacek]

A board can fire you and your whole team even if you're profitable. All it takes is 1 bad day, or a mistaken belief that outsourcing to a team in India can solve the same problem for half the price.

[codexon]

If your company is happens to have a board that doesn't include you, you either

1. Already sold your company.

2. Didn't really contribute to its founding.

[tptacek]

"Not worth more than being laid-off" would be hyperbolic, but I'd guess that your private company non-preferred shares are worth a lot less than you think they are. I have stories from real, "successful" companies that screwed over everyone not currently on staff on exit. It's not hard to do.

[codexon]

If shares of your company were undersold and you lose controlling interest in the process, that is your own fault. Founders usually have a different class of stock which has more voting rights per value.

This is like an employee accepting a $10/hour contract, and then complaining later that it was too low.

[tptacek]

Founders don't usually get preferred stock.

[codexon]

You are correct. I meant to say that founders usually have a different class of stock that has more voting rights, rather than higher liquidation preference in case of bankruptcy.