Comment by nrmitchi
16 hours ago
This whole situation feels shockingly close to the Meta/Scale situation, where founders and specific employees were plucked out, and effectively gutted any future prospects for the company.
At least in the Scale case there seemed to be some form of payout to employees and equity holders, but this takes it a whole lot further by just throwing out all other employees.
There is supposed to be the concept that “all common stock is the same”. These fake-acquisitions completely undermine that.
Yep, if investors and early employees keep getting left out in the cold while execs get a soft landing at Big Tech, it's going to shake a lot of trust in the startup game
I don’t think anyone trusts any tech company much these days. It’s been a steep decline in the past 5 years, from arbitrary mandates to the constant talk about firing everyone and hiring an AI. Even as an investor, it’s hard to trust that the “honor system” that once existed is still in play.