[gentleman11]

> An internal communique obtained by the Globe stated “there were no roles for the vast majority” of workers in corporate functions already filled by ServiceNow. Element AI also told employees their stock options are “void and cancelled...with no value in lieu provided” in the deal.

Elsewhere in the article, it mentions that all investors were paid out. Startups have no credibility anymore to potential employees

[paradisevoicez]

> Startups have no credibility anymore to potential employees

Startups that have zero revenue and jacked up to their tits with investor money should have no credibility. Element.ai was in toronto and it was the talk of the town of the amount of funding they got with almost no revenue. And no one exactly knew what they were doing.

Their investors got the short end of the stick. Unfortunately its a human behavior that the most loud mouthed charismatic people will get the grease and will be funded while thousands of more deserving startups with real revenues and business models will die in a ditch due to lack of funding.

[fatnoah]

>Elsewhere in the article, it mentions that all investors were paid out. Startups have no credibility anymore to potential employees

I've been part of two startup acquisitions and the net value of my options (over 1% of the company in one case) was $0. Join a startup for the experience and the ability to have more influence, not for getting rich.

[thomgo]

Is no one going to talk about this?

[908B64B197]

Stock options are very different than just getting stocks. Stock options can have a 0 value even if the stock is worth something.

This sounds like a pure acqui-hire for the Montreal team. I'm curious how much ServiceNow stocks the employees will get as part of the deal.