Comment by tlogan
21 hours ago
Yes, startups are always a bit of a gamble, but this feels like a captain abandoning ship while it’s still full of sailors (many of whom have families depending on them).
This really is a whole new level of getting screwed.
This is why advice is always to treat options for a non-public company as if they're near zero in value.
Because for most people, they will end up being worth exactly zero in value. Less if they went and exercised those options prior to a liquidity event that may never happen.
Isn't this the case for pretty much every startup that gets sold?
Founders get a big pay day and leave within a couple years while 100 employees share a 1% of the company between themselves.
rule 1: never believe a word a founder says