[xyzzy_plugh]

To be honest this still seems off.

If Carta shows respect for your data and privacy I believe they could still offer an opt-in secondary market, and I can see plenty of companies being interested in participating in it.

No one was complaining about the secondary market, they were complaining that Carta was double dipping with their data without consent. This whole post feels like he's just trying to move the goalposts.

Ultimately it's about treating customer data with respect, building trust, and operating with transparency. They can't do those things, so they have to shut the whole thing down?

Smells funny.

[logiduck]

The core issue of the secondaries market is that companies have a conflict of interest not to participate and the control that they want in order to participate essentially violates securities law. Founders want control over the price, who buys the shares, who can sell, etc. Carta and other companies so far haven't been able to solve this problem on mass scale of motivating founders to allow all shareholders to sell on an open market. There was weak demand from the company side so it seems like Carta tried to force it by making the market first and then asking for forgiveness because asking for permission wasn't working.

[xyzzy_plugh]

I agree.

My issue with Carta is now the permission vs forgiveness thing. They won't get the opportunity to ask for forgiveness again at least in my case.

[yesimahuman]

Agreed. And to make such a seemingly big decision in a matter of a weekend. Respect for being decisive I guess but this seems impulsive and framing the secondary opportunity to conveniently fit the narrative instead of addressing the core issues that, when resolved, might make it viable

[AmericanChopper]

The comments ITT are a great example of why it’s often a good idea to ignore complaints and do whatever you want anyway. The behaviour that conventionally would be used to build trust, like admitting when you’re wrong and changing what you’re doing (in this case, shutting down an entire division of your company) is simple met with “no not good enough, you were wrong and should be punished more”.

[dbt00]

They didn’t admit they were wrong, they said it was just the appearance of impropriety.