Are there any Lambda students who have created their own companies after X years? How does that payment structure work?
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Replying to @Silversteeze @Austen
Presumably that’s virtually a no-op from the ISA’s perspective. You follow the terms of the agreement. Most startup founders will either be on W-2 payroll (and pay ISA as agreed) or receiving LLC distributions (and, presumably, pay ISA as agreed).
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If the underlying question is about treatment of equity I predict with a high degree of confidence that the ISA does not give the note holder any claim on a company that didn’t sign the ISA and this is moot because any company whose equity is liquid will have founders hit cap.
10:23 AM - 15 Jul 2019
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