Startup.com Page #4

you put this together last time.

This is what

we worked on. Here's the revenue.

These pages are basically

the revenue model,

And here's the outcome

for three scenarios.

Tom, the reason I wanted

to call you...

I know it's an awkward time.

But it makes a hell of a lot

of sense for a lot of reasons...

to buy out Chieh and Susan

at a dollar a share.

Think about it. From his

perspective, it's quite a nice thing.

You walk away with

a half million bucks.

So, Chieh, what are we gonna do?

I don't think it'll get ugly.

There shouldn't be a need

to come to that.

I hope.

I would be stronger than that.

It won't get ugly.

We all are friends,

so we'll make this work.

One of the saddest things

about business...

And I never realized it

before...

When you watch ideas,

like anything...

Maybe this is how parents feel

about their children.

But when you watch 'em grow,

there's kind of a sadness...

to what they grow beyond

what you can do for them.

It really is.

Step outside of yourself.

I know it's not your style.

But make an extra special effort

to give warm fuzzies.

Okay? Trust me.

It'll go a long way.

Let's figure out something

where you, I and tom

Don't get bogged down.

That's the best thing.

Chieh, how old are you?

Twenty-Four.

Twenty-Five in October.

Dude!

Hello?

Hey, Chieh, this is tom.

I wanted to get a chance

to talk with you.

The cash alone seems like

a sum of money...

that I would be...

I wouldn't know what to do with.

What I don't understand is

What has changed between

today and yesterday.

My point is, we are founders.

We're not just employees.

We put together with

a lot of sweat,

And a lot of

the value of the company...

And all the capital was created

in the very beginning.

Hey, Chieh, calm down.

You're going to be

sitting at Goldman, Sachs...

making a half a million dollars,

and you'll be fine.

Chieh, I'm-I'm fighting

for you on this issue.

Don't turn on me.

Yeah. Bye.

What was the final proposal?

Mayfield's attitude

has been like this.

They started at talking about

$500,000 as a buyout for Chieh.

And they've gone like that

each day.

And I've been telling Chieh that

each day.

"Chieh,

every day this gets worse".

He thinks it's gettin' better,

And it ain't gettin'

better. It's gettin' worse.

He put up cash,

he worked hard...

The man worked...

after hours for...

about four months, five months.

Um, and put in presumably

$19,000 of his own money.

His career is totally intact,

he didn't take any risk,

And would be walking away

with $400,000.

They would prefer

if he just took all the cash.

They could take over $410,000.

It's hard to...

It's a sweetheart deal.

He also insinuated to me

on the phone

All kinds of other

nasty things he can do.

If he thinks I'm gonna

respond well to threats,

- He's sadly mistaken.

- You know Chieh the best.

Definitely.

Is this something

we need to be worried about?

He's not gonna get any mileage

out of me. I'll smush him.

I don't like being threatened.

I think he realizes

his legal case is weak.

That doesn't mean

He couldn't sabotage

the Goldman relationship,

Sabotage the potential Goldman

I.P.O., Sabotage the business,

Sabotage us personally.

It's disgusting. - Could he

get on the phone with Ezgov?

Why not? He could do

whatever the f*** he wants.

He couldn't get on the phone,

But he could send

him a manilla envelope.

Chieh, it's tom.

Are you awake? - I'm awake.

Let's blow this right down

to its assets.

This is about money for you.

And you want 800,000 bucks,

And this offer is $400,000.

It's sad and ironic that it's

about that, but it is about that.

So I'm feeling extorted.

We don't want to have

a litigious situation,

And don't B.S. Me.

It's about the money.

It's obviously about the money.

So just tell me

how much money you need.

I told you this morning...

Right. You want $800,000.

This offer's $400,000.

Do you want cash or equity?

Can we split it down the middle?

It's not gonna be

through the V.C.S.

And it's gonna have to be,

you know...

- It's gonna have to be personal.

- That feels right to you?

That we should pay you off cash

out of our pockets?

Not cash.

There we are.

So, um, sounds like...

we need to give you $700,000.

You...

Now, given that we are...

giving you $700,000...

Is that worth it

for their relationships?

Look, he's answered

the question.

He's already

answered the question.

That's how it goes,

but that's the answer.

That the money is

definitely more important. Okay.

Hey, guys, it's... Let's do it.

Chieh, if you thought I cared

about the number of shares at all,

You're way off; I don't even

know how many shares I own.

- Hey, Tommy.

- Yeah?

Gimme a hug.

Did that hurt you

a lot? - Yeah.

That was much more personal

for you than it was for me.

- It was.

- I'm sorry.

- Hey, tom.

- Yeah?

Y-You're one of the, um,

The most amazing people

that I've ever known.

You fit into that category too.

Definitely.

The V.C. S won't close until

this is a resolved issue.

Okay. My personal

solution with Chieh

Should not stop the financing.

We're running out of money, tom.

Jose's flipping out.

He's tearing his hair out.

We don't have money.

- Do you want to call him?

- No, I don't want to talk to him.

Each page is in triplicate.

What'd you tell him

as far as the retreat is concerned?

I told him to go to hell.

Did you really?

No. I said, "you're not

invited. Please don't come".

In about that tone

and in exactly those words.

No one likes getting nabbed

for a traffic ticket,

But one web site

Is pitching away to

keep the police at bay, sort of.

It's a web site that meshes

with your local municipality,

Allowing you to pay everything

from tickets to taxes virtually.

Kaleil Isaza Tuzman

is our guest.

Welcome to digital jam.

I promised I wouldn't

garble it too much.

Why don't you say it once

so we get it correct?

Kaleil Isaza Tuzman.

It's been happening my

whole life, so I'm used to it.

Uh, you got 15 million bucks

in the Mayfield fund.

Are you looking

for another round anytime soon?

I think they reported that

as a slightly low number.

We raised almost $20 million

From a number of players

in the west and east coasts.

We might do another round

in the next few months.

Which would mean that on paper

the company is worth what now?

Current valuation of the company

is just shy of $50 million.

Surprise!

Speech! Speech!

Maybe I'm speechless.

Thank you all very much.

This is, uh...

This is wonderful.

And I don't think I could ask

for a lot more

To happen on my birthday.

And I have a lot to do

before I turn 30.

- How old are you now?

- I'm 28.

I want to toast my partner

and brother rat.

- Tom.

- And back at you.

And all of you...

for all of the wonderful,

wonderful work...

in making this dream a reality.

And another one.

We need a drumroll for this.

A serious drumroll.

And the grand prize goes to...

Rate this script:0.0 / 0 votes