So heartbreaking. The front-line folks at Zynga were worked to the bone, by so many insider accounts. Now all the stock they were counting on has had most of its value evaporate.
But that's life, right? Counting on equity is, simply, a gamble.
Except when you've rigged the table, as Pincus and his cronies have.
They got to play by different rules than the folks whose hard work got them to IPO. Instead of being subject to lockup, like the rest of Zynga, they got to cash out early, before the true state of their company was fully appreciated by the market.
So what's the lesson?
Don't trust people willing to fuck people over to make a buck. You're not special. If there's a buck in it, you'll get fucked too.
But that's life, right? Counting on equity is, simply, a gamble.
Except when you've rigged the table, as Pincus and his cronies have.
http://www.forbes.com/sites/nathanvardi/2012/10/05/zynga-kee...
They got to play by different rules than the folks whose hard work got them to IPO. Instead of being subject to lockup, like the rest of Zynga, they got to cash out early, before the true state of their company was fully appreciated by the market.
So what's the lesson?
Don't trust people willing to fuck people over to make a buck. You're not special. If there's a buck in it, you'll get fucked too.
http://techcrunch.com/2009/11/06/zynga-scamville-mark-pinkus...