But that does happen, in way. The most well-known was Zynga - when they were getting ready to go public they did a claw-back on their outstanding options and shares. They screwed over a friend of mine that was one of the early employees.
Marcus Pincus is a piece of shit by his own admission. We should make a six degrees of separation where anyone who does any partnership or collaboration with that piece of shit immediately deserves a boycott as well. Yes, HN this includes even your god and lord Paul Graham...
Just because he admits to common practices instead of hiding behind the usual bullshit doesn't make him any worse than other CEOs. And just to make it clear which way to read that: That's not a defense of Pincus. That's a shot at the other CEOs. Business and moral don't go together, you can read that on HN all the time.
oh god yes and the entire state of Texas which makes the agreements that marcus pincus makes you sign when you join zynga sound lax.
there should be some federal minimum standard so that incompetent and malicious state actors in one state don't try to undercut fundamental economic policies of other states to lure away the companies from states like California... You should not be able to say "Come and incorporate in Texas and you'll own whatever your employees and ex-employees think for their entire lives". Or come to Texas and you won't have to pay a minimum wage to your employees.
Can you shed a bit of light on the details or motivation? It's always bothered me how we never got a full picture of what happened. So they clawed back a portion of options from people who had been awarded options at one level then demoted? Was their motivation just for money? Because it seems like absolutely the worst possible thing for morale and recruiting and I can't imagine them getting back more than 50mm.
http://www.wsj.com/articles/SB100014240529702046219045770183...