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A comment on Convoy collapse: Read CEO's memo detailing shutdown of Seattle trucking startup. Parent comment

Re:Convoy collapse: Read CEO's memo detailing shutdown of Se... by Johnny555 on Thursday October 19, 2023 @03:24PM (#37947459)
What makes you think the executives are making anything from this? It's a startup, it ran out of money, it failed, there is nothing left. Joining a startup is risky.

Because the executives (almost) always make sure that they are compensated before the fall.

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Re:Convoy collapse: Read CEO's memo detailing shutdown of Se... by adastra22 on Thursday October 19, 2023 @03:32PM (#37947566)
Not when a company shuts down like this. If they did, the investors would claw it all back through the courts. The founders and executives walk away from this with $0.
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Re:Convoy collapse: Read CEO's memo detailing shutdown of Se... by wferrell on Thursday October 19, 2023 @03:41PM (#37947684)
Not if they sold secondaries.
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Re:Convoy collapse: Read CEO's memo detailing shutdown of Se... by adastra22 on Thursday October 19, 2023 @04:03PM (#37947962)
Sure they may have made money from a sale months or years ago. But they’re not walking away from this incident with a payout.
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Re:Convoy collapse: Read CEO's memo detailing shutdown of Se... by ska on Thursday October 19, 2023 @03:43PM (#37947710)
> The founders and executives walk away from this with $0.

Often after having forgone salary for a while, also.

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Re:Convoy collapse: Read CEO's memo detailing shutdown of Se... by rchaud on Friday October 20, 2023 @11:18AM (#37957343)
How many people are leading a 1500-headcount company on a zero salary? Even Steve Jobs couldn't do it without backdating options to make himself Rockefeller while acting like Gandhi.
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