Startup Follies, Part IV

I was paid entirely in stock, with the promise that all my expenses would be paid. The amount of stock was adequate, and the vesting schedule aggressive. The four partners in the company had suggested it and I had accepted. No negotiation was necessary as it was a fair offer.

Suddenly, after several months, I was told, "we can't honor that deal." The venture capitalists didn't like it. Of course they had defaulted long ago and should have been entirely out of the picture.

Gamblers have a saying, something about not throwing good money after bad money. My time spent with this startup had just been made entirely bad. Renegotiating was simply wasting more of my time - throwing good time, my future time, after bad time, time already wasted with these bozos. The company and principals had proven they had no scruples - I should have walked immediately! Probably should have filed a lawsuit too.

Unfortunately I didn't! In retrospect, my actions were pretty stupid and naive!
(of course none of my expenses were ever reimbursed either).