I mean, maybe you shouldn't sell of the right to buy your company.
The accelerator sounds scummy, but at the same time i can't help but wonder wtf the owners of these companies were doing. Did they just not read the contract? If you own a company i think you have a lot of responsibility for the shitty business deals you make. Its not like we are talking about some senior citizen hoodwinked into signing their home away.
Every contract has some crap in for what seems like unlikely scenarios. If you can’t negotiate it out it is either that or the highway. If these startups could get YC funding they probably would have. So for some it is accept a possible imperfect contract or back to employment. Employment itself being full of contracts with crap clauses as well as common law itself having crap. Show me the perfect contract!
> If you can’t negotiate it out it is either that or the highway
That is generally how contracts work. You get something and you give something in return. Nothing comes free. If the deal was better then "the highway", you have no cause to complain when the other side comes to collect their part.
Especially for a sophisticated party like a company. Things are a little different for individuals like employees where the power imbalance is coercive. However when it comes to a company, as long as it wasn't outright fraud, i have very little sympathy that they are having buyers remorse over a bad deal.
The accelerator sounds scummy, but at the same time i can't help but wonder wtf the owners of these companies were doing. Did they just not read the contract? If you own a company i think you have a lot of responsibility for the shitty business deals you make. Its not like we are talking about some senior citizen hoodwinked into signing their home away.