Nathan Latka
๐ค SpeakerAppearances Over Time
Podcast Appearances
which, you know, maybe they deserve it, maybe they don't.
That's besides the point.
But you guys have only said really great things about the founding team.
There was never anything negative mentioned, just the fact that diverging priorities.
Talk a little bit about sort of how the company ended up with so much sort of equity, non-operational sort of outside the business and why that happened.
What was Tom?
He was the CFO?
CRO.
CRO.
CRO.
Yeah.
Well, yeah.
And we appreciate, I appreciate you guys talking so openly about this.
You know, Lonnie, you sit on a lot of boards.
We diligence a lot of companies and this happens like literally 90, 95% of the time is there's some kind of co-founder conflict like this.
And there's a variety of ways to solve it, right?
You could pay cash to buy out on, you know, and this is, this is all, this could also be early angels, right?
or you know just non-operational equity you could raise money to then go buy out those and do a secondary you could re-establish a new esop pool with board approval that effectively dilutes the whole business and then gives more incentive to go forward management lonnie have you seen any other effective strategies to incentivize go forward management when there's a big chunk of unoperational equity
Let's wrap up guys, the last three minutes here with just sort of the founder path experience.
So are you guys comfortable sharing what deal we ended up doing together, the amount and maybe, you know, the term or whatever you're comfortable sharing, Andy?