You are mustering moral outrage over money that would in any other transaction go to the VC. For decades, VC have been transferring liquidity away from employees and to themselves.
There is something "new" here: the fact that founders have so much leverage in this market that they can claw that value back from investors.
The welfare of the "employees" is a total red herring. Venture capital investors have been fucking over employees directly for almost 20 years.
There is something "new" here: the fact that founders have so much leverage in this market that they can claw that value back from investors.
The welfare of the "employees" is a total red herring. Venture capital investors have been fucking over employees directly for almost 20 years.