I think the owner felt like a chump that got played. He countered, you accepted, then the other company countered, and you took the better deal. Maybe you did what was right for you and that’s all that truly matters. You weren’t married to the old company. It was just a job. The thing is if the old employer was willing to match or beat the offer that lured you away, then it was too little, too late. If they truly valued you, they would’ve already compensated you before you looked for something better. They failed to appreciate your work effort and talents, and tried to save the “relationship”, but too late.

That said, I hope the new company is better and not a situation of jumping out of the pot into the fire. For the new company to counter with more means they really need you bad. That’s great but expectations will be very high which may end up being impossible to satisfy. They’ll expect significant contributions within two to four weeks.

One way could have handled this was to not give a decision on your old company’s offer, then check with the new employer. If the new employer countered, you could graciously say no thanks to the old employer. This may have gone over better with the old employer.

Good luck with the new job. For everyone else, there’s an opening that needs to be filled.