Robbed of Equity: Toptal with The Information's Amir Efrati & former employee Scott Ritter | E972

Jason Calacanis, Amir Efrati, and Scott Ritter discuss the controversy surrounding Toptal's equity issues. They delve into the frequency of compensation issues in startup funding, the implications of convertible notes, and how investors can cash out from Toptal. Ritter, a former Toptal employee, shares his perspective on the equity situation and his experiences with CEO Taso Du Val.

Speakers

AI Chat

Unidentified

Unidentified

Jason Calacanis

Host • 56%

Amir Efrati

Guest • 23%

Scott Ritter

Guest • 18%

Unidentified

Chapters

0:00	Opening
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

Transcript

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