ESOP related problems
How many of you had ESOP related promises by founders broken by them ? Could any of you appeal to their better senses and get any money or were you hung out to dry completely ??
I was shown dreams of Esops and Co-founder promises -> I left my well paying job -> I had to leave this new company as Esops nor co foundership got fructified
Sounds depressing. At least co foundership must have, that's in the hands of the founders.
I have managed ESOPs for companies. Many have come to me saying xyz was promised. The only reason they got what was promised orally if they are still relevant in the plan. If you can still contribute to the future growth. Else nada ; didn't promise; ignore him/her till they leave.
No founder gives away equity generously. If they are saying that then they are lying or stupid. There's only 100% of equity. Limited resource. So they are very careful in doling it out and they should be.
What should you do? Get what is pormosed for in writing, in contract immediately. Don't wait. Or keep having leverage/relevance and hope for the best.
ESOPs are dangled as a carrot and this is the case in most startups. It's dished out discretionarily and honoured even more discretionarily