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Published on Sep 6, 2019
"Robbed of Equity": Toptal denies any shares to employees & investors. Amir Efrati of The Information on breaking the story, founder Taso Du Val's stock hoarding, unusual tactics & changing landscape of startup-investor relations; then former employee Scott Ritter on his ~8-year tenure, not receiving earned share worth $2m & life after Toptal
1:00 Jason intros the Toptal situation and Amir 3:00 Amir on breaking the Toptal story 3:20 Frequency of compensation issues in startup funding 13:45 Jason explains convertible notes 16:10 Did Taso Du Val know what he was doing? 22:00 How can Toptal investors cash out? 29:15 What do LPs think of SAFE agreements and convertible notes? 30:20 Toptal is a cautionary tale for employees & investors 35:59 Jason’s thoughts on convertible notes/SAFE agreements 57:40 Jason’s main takeaway from the Toptal situation 1:07:15 How Jason would fix equity issues at Toptal 1:08:58 Jason intros former Toptal employee Scott Ritter 1:11:03 Scott’s thoughts on missing out on equity as one of the first Toptal employees 1:12:28 Taso Du Val as a boss and co-worker 1:14:15 Were there stock option promises made to employees? 1:20:55 Taso Du Val’s thought process on equity 1:25:10 Jason explains why he is so upset about this issue 1:27:45 Scott describes what attributed to Toptal’s rapid growth 1:31:40 Jason introduces #boycottToptal
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