(2010-07-19) Blank Founder Vesting Milestones
Steve Blank thinks that linear vesting of Start Up founder-CEO stock is inappropriate, and this causes anger if that CEO gets pushed out before his stock finishes vesting. If the founding CEO gets the company to a repeatable business model (Customer Validation) they deserve to vest all their stock if they are removed. If they fail to find a Business Model, by taking investors money they’ve implicitly agreed they can be walked out the door. (But can keep the stock they’ve vested to date.) Commenters note (and I agree) that setting the Metrics that define whether a repeatable model has been found can be an ugly process, esp if it's after a pivot (because time has passed, the CEO has been there for some time, the investors may be somewhat peeved that a pivot was necessary, etc.).
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