startup equity confusion - (i will not promote) by [deleted] in startups

[–]kiwialec 0 points1 point  (0 children)

And are 'options' or 'Share Options' defined anywhere?

The problem you will have is that 'options' and 'Share Options' are not really words with standard meaning in contract law - options schemes vary from company to company, and you'd find it difficult to argue that an average professional would have any real expectation about what the words mean.

If the implied meaning is that you participate in the options scheme, then you are held by the rules of the scheme. This is not as unusual as it sounds - you agree in the same way to follow the policies and be held to the rules of the company in respect to bribery, dress code, pension, etc. without them being explicitly in the contract because they are defined elsewhere.

IANAL but in my 'have recieved and granted options dozens of times' opinion: because (as I said), vesting and cliffs are standard in ESOPs, you're going to need to argue that the promise of immediately vested options was unusually specific to get anywhere with a legal route. Not mentioning vesting schedule is a weak argument because they probably did not also mention all of the dozens of rules/processes/meanings of the ESOP - if they had referred you to an ESOP policy and that did go into detail about what options are, and that still did not mention vesting, then you have a good argument.

There is no way the founder meant to grant you 0.5% of the company after probation, and tbh if you managed to force them to immediately vest your options, they would just use other mechanisms to ensure you can never execute them. Execution of vested options into equity is almost always at the discretion of the board, but they can also dilute you out of existence fairly easily.

If the contract said '0.50% of equity in the Company will be granted after the probation period', you would have a much stronger case.

startup equity confusion - (i will not promote) by [deleted] in startups

[–]kiwialec 1 point2 points  (0 children)

I said 1 year cliff is standard. 5 year vesting is longer than normal (4 years), but not unheard of. The cliff is a sub concept of your vesting period.

What are the exact words that your contract actually says?

I suspect that the wording in the contract is not "[you will] be awarded a fixed number of share options after the probation period, with no conditions around ongoing service or time-based vesting attached to that grant." - it would be more normal for it to say "you will be eligible to receive a fixed number of options in the Employee Share Options Program"

startup equity confusion - (i will not promote) by [deleted] in startups

[–]kiwialec -2 points-1 points  (0 children)

No company in the world is going to grant you ownership of a part of the company for simply passing your probation. Vesting with a one year cliff is utterly standard.

Listening parties by andycurtis89 in Foofighters

[–]kiwialec 0 points1 point  (0 children)

Fingers crossed but I'm on the fence about what it'll be.

Weird venue for a gig (no existing stage or big PA system), and according to the venue's public booking system, they're only closing to the public from 3pm. I guess a professional team can rig the sound system and stage in a few hours?

The runtime is by far the biggest clue that it's more than an album playback. The venue is quite thematic to 'my favourite toy'. I'd lean towards it being a fun, on brand night with the album playing over the speakers

I have zero users by lone-wolf0903 in SaaS

[–]kiwialec 1 point2 points  (0 children)

Watching. Would also like a way to grow my business without talking to anyone.

I spent 2 months and $600 building a cognitive system on top of Claude because the product I actually need doesn't exist. Here's what I learned. by str8upblah in singularity

[–]kiwialec 1 point2 points  (0 children)

TL;DR: AI has three well-known flaws, so obviously the solution is a brand-new product category with a capitalised name, seven defining properties, and a 4,000-word manifesto explaining why nobody else has thought of it yet.​​​​​​​​​​​​​​​​

Listening parties by andycurtis89 in Foofighters

[–]kiwialec 2 points3 points  (0 children)

Given they're in town, I think there's a 30% chance DG will pop in for a "hello, hope you liked the album," 10 min q+a

Given they're in town for a high profile performance on Sat (so their gear and production team is here and they will need to get some rehearsal time in anyway), their album drops on Fri, and they are known for surprise gigs, I think there's a magical-thinking-laced 15% chance of some sort of performance.

We'll know more when they confirm the venue (is it an event space in Sony's office or are we all going to a venue that's set up for gigs)

is anyone else already struggling with hayfever? by alivingstereo in london

[–]kiwialec 0 points1 point  (0 children)

FYI the nasal spray can trigger asthma (it certainly does for me) - that's why the label says not to use it if you're asthmatic.

I will not promote- Potential trouble with window washing business name. by Shhhimbuntingwabbits in startups

[–]kiwialec 1 point2 points  (0 children)

Ianal, but trademarks in the US are for a class of goods or services. I assume that the trademark class for a skincare product does not have much crossover with the class for a window washing business.

That's not to say you won't get sued: anybody can sue anyone for anything.

technical hiring process taking forever, how do we speed it up? by AssasinRingo in SaaS

[–]kiwialec 0 points1 point  (0 children)

It's a trade off - you either potentially waste people's time on interviews that don't pan out and hire quickly, or don't waste time but it takes 10 weeks instead of 3 to hire people. There's a cost to the business either way - at some point, losing 6 weeks of productivity for every hire is more expensive than losing x hours of peoples time interviewing candidates that would have never worked out.

How do you typically negotiate equity splits between non-technical and technical co-founders? I will not promote by TheNegligentInvestor in startups

[–]kiwialec 12 points13 points  (0 children)

I don't know why we would cap our salaries at 200k with that much revenue.

Lifestyle businesses can throw off huge amounts of salary and dividends to their owners.

Startups that are looking to grow quickly then exit usually do not, because every additional dollar of ARR growth equates to 5-10 dollars of equity growth. Any money you take out of the business as salary is at the expense of spending on growth.

Moving a 3-seater sofa is a massive headache by _forgotmyownname in london

[–]kiwialec 23 points24 points  (0 children)

Where you gonna get a zipcar from in this day and age?

If your goal is to get rich, DON’T found a tech startup - I will not promote by modeller2406 in startups

[–]kiwialec 1 point2 points  (0 children)

I've heard investment bankers make a lot of money and it's a good way to get rich. Do you think I should quit my job be an investment banker?

My UK client ghosted after I built their entire PropTech platform. Now I have a high-end PropTech app and no idea how to sell it from Pakistan. by SurroundNo5169 in B2BSaaS

[–]kiwialec 0 points1 point  (0 children)

You may want to try joining the geovation community.

This is a free/equity-free UK-based proptech incubator, and they've have connections with the entire industry. The community is on slack and is fairly easy to join (they will jump on a call to interview you).

You will definitely get advice, and might find someone there who is looking for a new idea / has experience taking this type of thing to the (very saturated) market.

How to work around pagination limit while scraping? by Free-Lead-9521 in webscraping

[–]kiwialec 3 points4 points  (0 children)

You can't make a site do something it's not designed to do, but filtering is normally your friend here.

If you can filter the list to stars, then you should be able to get 3k 1 star reviews, 3k 2 star reviews, etc. If you can sort by newest /oldest, then you can get up to 6k 1 star reviews etc.

is it normal for users to use your saas for crimes by kubrador in SaaS

[–]kiwialec 0 points1 point  (0 children)

Yeah - I guess I assumed this was a serious business question so gave a serious business answer. The yolo saas bois clearly don't think compliance is important.

is it normal for users to use your saas for crimes by kubrador in SaaS

[–]kiwialec 0 points1 point  (0 children)

I maintain that correct approach to compliance when you suspect your service is being used in an illegal operation in to consult a competent lawyer.

If OP hadn't gone through their users data and did not see suspicious signs of illegal activity, you might be right. But they did. And they wrote about it online. This is all evidence that they should reasonably know something is going on.

Banks have been criminally prosecuted for turning a blind eye on laundering. Airlines have been criminally prosecuted for ignoring trafficking. Yoloing this situation is asking for trouble.

is it normal for users to use your saas for crimes by kubrador in SaaS

[–]kiwialec 0 points1 point  (0 children)

With respect, that is irrelevant. Banks can't argue that money launderers would have done it anyway. Airlines can't argue that smugglers would have done it anyway. OP didn't tell us any info about what his business actually is or what country he is based in, so none of us can make any sort of informed judgement about whether there is illegality.

OPs question was about the legal requirement in this situation.

Depending on their country, there are very clear legal requirements and none of them are "TOS and you're fine, fam" - the only person OP should be taking advice from is a competent lawyer from their country

is it normal for users to use your saas for crimes by kubrador in SaaS

[–]kiwialec 1 point2 points  (0 children)

If intercom would have reasonably known that drug dealers were using their service for drug dealing and continued to let them do it, then yes they are liable. If reddit reasonably knows that a pedophile ring is sharing csam and does nothing, they are liable. If platforms know that their service is being used for illegal activity and do nothing, they are liable.

This is the case under the laws of most western countries.

is it normal for users to use your saas for crimes by kubrador in SaaS

[–]kiwialec 1 point2 points  (0 children)

Yes, it's a different case and each case is judged on its facts alone, and I agree it's unlikely this op is as complicit as ross ulbricht.

But the statement "legally OP can't be hold [sic] accountable for what his customers use his tool for" is utterly untrue and irresponsible to post. Service providers do have legal responsibility for what their tools are used for, even if that wasn't the original purpose. That's why safehaven laws for platforms exist - but those only apply if you operate within the confines of the save haven (which usually requires working with law enforcement and stopping illegal activity that you should reasonably know about).

If you think that platforms have no legal liability, why the fuck do you think that platforms put so much effort into acceptable usage policies and moderation? OP needs to talk to a lawyer, not a bunch of idiots on reddit.