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October 09, 2006
Founder Shares or Bust
A friend who founded a tech company many years ago is on the verge of cashing in thanks to an nice IPO. Holding about 1% of company our friend's stock may be worth $3M assuming a strike price of $0 and that the stock will hold up through the lock-out period. Even when you subtract the 40% paid to taxes, that a fantastic and well deserved windfall.
This news stands in stark juxtaposition to the torrent of job descriptions that we read over on sister site tech:gigger where every 2 bit company is dangling pre-IPO stock options as sucker lures. Can we please give up the ghost on this? Start-ups should promise good pay and very significant portions of ownership or talent should walk.
Posted by BT at October 9, 2006 03:56 PM
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