This sort of thing is unfortunately more common that most people realize:http://blog.samaltman.com/cruise
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@paulg@StartUpRabbi and proper due diligence. -
@tombielecki by whom? If nothing was signed and no work was done, it would be assumed to be irrelevant. -
@bmann also... presumably the Cruise YC application had an equity split on it, implying the value of contribution the ex-founder had
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@bmann although not a legal document, I think a napkin sketch cap table like that holds weight in a case like this -
@tombielecki like I said, I’m unclear on which entity would do the diligence. YC? If there is no work product, then no ownership. -
@bmann so you wouldn't advise for a breakup document?! even when you're approaching a 10-figure exit? it's not B/W, there's a risk. -
@tombielecki no idea of details. As described, it sounds like a buddy that helped out. Would an office admin who left be mentioned? *shrug* -
@bmann lots of info left out, but calling them a cofounder with trade secrets requiring a 'Breakup' sounds >>basic admin role ¯\_(ツ)_/¯ - 1 more reply
New conversation -
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@paulg@startuprabbi would a standard note saying “you’re no longer part of the co.” do or is there an e.g. of something more substantive ?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg sensible. I hope this works out - and should be a note to all in the future.Thanks. Twitter will use this to make your timeline better. UndoUndo
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