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HN is focusing far too much on the employee stock options. Once any company gets into a "dire financial situation", the options are already completely worthless.

The worse alternative would have been to not restructure and just shut down the company leaving everyone without stock options, jobs and probably without severance either.

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How exactly does screwing the employees out of stock options help the company not shut down? Outstanding stock options have zero effect on a company's profitability/burn rate.

In any event, OnLive might as well just shut down anyway. It has completely poisoned its name and nobody worth a damn would go work there after this stunt. And it's far too ambitious a project to have any chance to thrive with B-level engineering talent working on it.

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