startupethics
Joined 9 years ago
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6
Member since
Jul 17
Recent submissions
Comment · 9 years ago
As a side note, the 50% dilution was not a normal dilution during funding round. No significant new money was invested into the company on that dilution.
Comment · 9 years ago
I'd be willing to risk lawsuit, if there is an official channel in the incubator to report ethics violations. And a general practice by the incubator to keep such reports and investigations relatively confidential. I think this would make risk/reward ratio to be good enough for me.
I don't know, if there is value for incubators to spend resources on that mechanism (maybe wealthier in a long term, if nerds could keep their lunch money? as per http://www.paulgraham.com/wealth.html ).
If there is no such established mechanism, I don't think risk/reward of reporting ethics violations is good enough. Precisely because the most likely outcome is being sued into a small ball of carbon.
Comment · 9 years ago
I think it is a good idea to have official public channel to report ethics violations of founders. My guess is that YC partners would try to uphold https://www.ycombinator.com/ethics/ And quietly weed out rogue founders from the network. But this is just a guess.
Comment · 9 years ago
1) Yes. I still have connection with that former intern. Value of his contributions - my judgement and his following career is enough to make a clear call on that. 2) Unlawful practices are also ethics violations right? No, it should have been e-mailed + posted on the wall. No chance of missing it. 3) I don't care about $100,000.00. Not worth a lawsuit. And it is extremely easy to see 50% dilution and its effect. It's in the documents.
I'd rather avoid conflict and let YC deal with their founders / alumni. So what I'm asking, if there is an official public channel to report issues like this to YC?