There's an easy fix to that, and the only way I'd accept equity. Having my equity tied to founder equity value.
Thus, I will accept dilution, as long as a founders do, and this of course includes clauses for enrichment in any other form.
So a big new salary, or cash on the side, or any other method to take alternative comp, while dilution happens, lets me get mine.
Which is, of course, fair for me.
No games, no tricks.
So what you're saying, is the next lawyer in the chain, can always fool the prior?
If that is the case, then is an employment contract not the same? Suddenly, your contract now has you working for minimum wage?
Because 'next lawyer in chain' can always destroy all prior contracts?
So it is all pointless? Or are these lawyers only able to negate all equity claims?
Thus, the founders always get nothing? Or is it the VCs which get their equity diluted to 0, all the time, because no one can make a solid equity contract?
Note: if this happened to you, more info may aid us all.
Right?
Because there is no way to protect equity.
Right?
Because VCs can do anything they want? Because all contracts, and lawyers are worthless, right?
And only VC lawyers know how to write proper contracts, right?
So you will always lose?
Next on HN: now that American capitalism is proven null and void, on to the next bad thing!
What a load of hogwash. Do as I said in my original post.