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Even if this guy turns benevolent tomorrow morning and issues his options, they're screwed tax-wise. I can't think of anything I like about this, from the utter selfishness of the founder to a16z funding such a company with such bad terms for the employees. I'd like to know who the VC was and read an explanation from him.

I'm reminded of Steve Blank's article Startup Stock Options – Why A Good Deal Has Gone Bad


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