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by londons_explore
1852 days ago
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There are all kinds of sneaky ways to make his shares worthless. For example, issue 100x the existing share base, and distribute them to employees (as compensation) and sell them to existing investors (except him) at way under market rate. |
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I bet the same logic is how him and the CEO wound up with 50% to begin with
I bet it was the CEO that originally suggested varying percentages which was probably more correct and is now acting on it. The reddit post said they fought/debated over that.
I actually do find it offputting when founders are equal, it means they avoided/cant deal with confrontation or they have no idea how this sector works and just tried some out of touch pleb logic.
So yeah he is playing by a totally inefficient set of rules and got screwed