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[parent] [thread] 3 comments
1. tptace+(OP)[view] [source] 2024-05-23 00:28:28
I'm not following this very closely, but agreements that block employees from selling (private) vested equity are a market term, not something uniquely aggressive OpenAI does. The Vox article calls this "just as important" as the clawback terms, but, obviously, no.
replies(1): >>comp_t+43
2. comp_t+43[view] [source] 2024-05-23 00:52:48
>>tptace+(OP)
> agreements that block employees from selling (private) vested equity are a market term

They threatened to block the employee who pushed back on the non-disparagement from participating in tender offers, while allowing other employees to sell their equity (which is what the tender offers are for). This is not a "market term".

replies(1): >>tptace+9b
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3. tptace+9b[view] [source] [discussion] 2024-05-23 01:59:27
>>comp_t+43
Sure. Selectively preventing sales isn't. But it's not uncommon to have blanket prohibitions. You're right, though.
replies(1): >>comp_t+uc
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4. comp_t+uc[view] [source] [discussion] 2024-05-23 02:11:44
>>tptace+9b
Yeah, my impression is that a lot of non-public startups have "secondary market transactions allowed with board approval" clauses, but many of them just default-deny those requests and never have coordinated tender offers pre-IPO.
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