[dehrmann]

At some point, aren't the C Suite and directors failing their fiduciary responsibility? I know they have broad freedoms, but when you're reducing an a minority shareholder's equity by 95%, it's well past "fiduciary responsibility" and looking like fraud.

[fusslo]

I am convinced every executive and wanna-be executive is on the 'inside joke' of funneling money out of the company into their pockets.

I am also convinced that investors believe it's the C Suite's responsibility to tear away any equity from employees to leave the largest pot for investors.

[mikert89]

ive been in these rooms and heard the conversations, employees are seen as disposable liabilities

[toss1]

YUP

Terms and phrases I've heard verbatim from investors and/or founders:

"There's a thousand ways to screw minority shareholdeers."

"Cram-down" (repeatedly, like it is an ordinary thing to do, effectively repudiating or diluting away entire classes of debt and/or equity)

"I hate to lie, but you often have to." (said as if there is no choice in the matter)

"You have to screw the other guy before he screws you."

"If there's a problem in a joint venture and you put out the resources to fix it, you're the chump."

It is a good idea to not do business with people who say these kinds of things.

It is delusional to think you will be the special one who they actually treat fairly and not be targeted by their greed and lack of ethics.

If you are really lucky, you will escape and find an attny willing to take your case and win a lawsuit and still get to chase them for the judgement.

The only winning move is to not play.

(Not to say there are no honest ones, but it is really getting scarce, and many honest ones have left the biz.)

[droopyEyelids]

This is what it means to own

[RamblingCTO]

Can confirm from my experience. Although not everyone is like this. Sent me into burnout that I didn't wanna be a dick and extract as much "value" from the employees by walking over them and fucking them over when the chance arises. It's always empty promises to string people along. From my experience, these people (the resource extraction dicks) are also some of the must unlikable and unhappy people I've ever met.

[mlinhares]

Anyone that doesn't think this is delusional.

[ojbyrne]

Of course. So if you’re the employee, you’re going to sue? If so you’re paying for your lawyer, and the company is paying for theirs. Guess who goes broke first.