Re:Sell your startup for half a billion and get nothing (2021)
by munchler on Tuesday March 05, 2024 @02:40AM
(#39600437)
Working without pay is the reddest of red flags in any company. It’s not even a business at that point - it’s a volunteer gig.
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Re:Sell your startup for half a billion and get nothing (2021)
by josephg on Tuesday March 05, 2024 @07:21AM
(#39602401)
Yeah it can also be super illegal here in Australia - falling foul of what are essentially anti slavery laws.
If companies get caught doing things like this, they can be fined for tens of thousands of dollars “per offence” - which is something like the number of missed pay packets across all employees, the whole time this has been going on.
(I’m fuzzy on the details - a friend was an advisor to a startup which paid their employees in crypto. He looked into it - and made them pay everyone in dollars as a condition of having anything to do with the company.)