Ask HN: Are employee stock programs in startups inherently unfair?(capitalfolly.com)

Ask HN: Are employee stock programs in startups inherently unfair?

https://capitalfolly.com/philz-coffee/

2 コメント

robocat8 か月前

Stock is financial - fairness is irrelevant. Never expect fairness in business deals.

VCs stack the cards against common stock holders - high risk for perhaps $0 return (even though preferential shareholders might make bank).

d_e_solomon8 か月前

Many startup employees buy into company stock plans, believing they’ll share in the upside. But as cases like Philz Coffee show, liquidation preferences and capital stack rules often leave them with nothing after an exit. Are employee stock plans fundamentally misaligned with venture-backed structures?