A Korean start-up founder is like a patriot born

A Korean start-up founder is like a patriot born with a historical mission, the path to exit is long, even if the company is IPOed, Exit through M&A is not as common as in foreign countries, and if he sells old shares in the middle, he is treated as a traitor.
(Excluding the money game of players in the capital market)

Since the founder (except gold/silver spoon and chopsticks) is also a person, it is a debt that is drawn up in times of need, a surcharge, and an unrecorded amount of money that accumulates over a few years, which is a huge burden. Even so, if the CEO's salary is raised, investors do not look at it well. (They're the ones who will exit right away...)

In this respect, the U.S. is also fast at the peak of capitalism.
People like WeWork Adam Newman abuse it, but...

In any case, it seems desirable for Korea to open a way for founders to quickly exit and pay off their debts, enabling a quick virtuous cycle.

<Silicon Valley's Hidden Secrets: Founder Liquidity>
(Link to comments for original text)

1. 🚀 Shinhwa, founder of Silicon Valley
   * Founder's "risk-taking" is considered an important role
   * Leaving a stable job and being praised as "giving life" to ventures
   * Justified to have more stake than initial employees

2. 💰 The substance of founder liquidity
   * The practice of founders selling some of their shares in a new funding round
   * Can pursue personal financial stability and company growth at the same time
   * the degree to which it is often done in secret and referred to simply

3. 🤫 Why founder liquidity is a secret
   * Could undermine founder's narrative of 'all-in'
   * The story of hardship creates empathy and respect and helps attract talent
   * Founder's Risk Reduction Affects Startup Awareness and Valuation

4. 📊 Start-up founders and initial employee compensation comparison
   * Seed Round: All Low Salary
   * Series A: Founder's Salary Increase + Securing Liquidity, Employee Salary Increase Slightly
   * Series B: Founder's salary increases significantly + additional liquidity, employee salary increases slightly
   * Results: Only founders reduce risk, employees continue to bear risk

5. 🏢 WeWork Case
   * Founder Adam Newman: More than $2 billion in cash
   * Employees: Stake unavailable, exposed to hype
   * Employee Tender Offer Collapses, Employees Losses

6. ⚖ ️ unfair liquidity approach
   * The problem is that only founders get liquidity
   * Other Cases: Founder Secures Hundreds Of Millions Of Dollars, Employees No ($0)

7. 🤔 Misperceptions of founder liquidity
   * Concerns over lower employee morale (not true)
   * Founder's guilt (unnecessary)
   * Concerns about future investors' negative perceptions (not true)
   * Founder's greater risk-taking belief (not true with liquidity monopoly)

8. 🗣 ️ founder's experience in disclosing liquidity
   * Initial Reaction: Celebration and Curiosity
   * Conversations with Founder: From Unconvenience to Relief
   * Result: Keep trust, no lies, positive

9. 🌟 A Better Approach
   * Maintaining transparency
   * Generous Employee Equity Provision
   * Provide liquidity opportunities for employees as well

10. 📢 Proposals for Change
    * Including liquidity training and transparency in all internal new round announcements
    * Employees are encouraged to ask founder liquidity questions
    * Provides opportunities for risk profile assessment through transparency

11. 💡 Conclusion
    * Possible changes in employee risk perception
    * More likely to demand compensation
    * Need to rebalance the startup ecosystem