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 ??
Kendall Gabriel
Stealth
a year ago
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
Damn
That is really rough
Did you know the team well, or had recently met them? Did they get funded and turn back in this case?
Jordon Vernon
Stealth
a year ago
my mistake of not doing proper dd. At that time, I was pretty new to the startup world.
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Sounds depressing. At least co foundership must have, that's in the hands of the founders.
ESOPs are dangled as a carrot and this is the case in most startups. It's dished out discretionarily and honoured even more discretionarily
Kendall Carmden
Stealth
3 months ago
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.
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