bmann.ca
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{}
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_journals/2024-05-16_2159.md
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_journals/2024-05-16_2159.md
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---
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title: May 16th, 2024
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date: 2024-05-16, 21:59:06 -07:00
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section: journal
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link: https://www.getgrist.com/
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tags:
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- spreadsheet
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---
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[[Grist]] is an open source cloud spreadsheet. Not quite an Airtable clone, but similar capabilities. Some of the layout and linking makes it feel like Filemaker. The [[Grist Labs]] team behind it is also very inspiring.
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_journals/2024-05-16_2202.md
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_journals/2024-05-16_2202.md
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---
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title: May 16th, 2024
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date: 2024-05-16, 22:02:45 -07:00
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section: journal
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---
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I had three inspiring [[Causal Islands]] calls today. Marking the date here that I'm very inspired and energized by the people who want to get involved with [[Causal Islands Berlin]] …and beyond.
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_journals/2024-05-16_2209.md
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_journals/2024-05-16_2209.md
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---
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title: May 16th, 2024
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date: 2024-05-16, 22:09:38 -07:00
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section: journal
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tags:
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- Canada
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- startup
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- legal
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---
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Hearing from multiple people that we have to teach new Canadian founders about [[reverse vesting]] again. But also "fix" startup company formation so that it's cheaper / easier. [[Ownr]] is not the solution.
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_notes/Open Social Protocols.md
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_notes/Open Social Protocols.md
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_notes/reverse vesting.md
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_notes/reverse vesting.md
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---
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tags:
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- startup
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- WIP
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---
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It's called "reverse vesting", because founder's shares are granted at company formation (so not in fact vested), and there is a base agreement that says that the company can buy back a portion of or all shares -- e.g. the company "reverse" vests the right to be able to buy back founder shares at nominal cost.
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> Tech startups usually grant shares subject to vesting conditions ([or use options](http://www.marsdd.com/mars-library/stock-options/)) in order to solve the [problem of a founder leaving and taking their shares with them](http://genius.com/Kirsty-nathoo-lecture-18-mechanics-legal-finance-hr-etc-annotated). The shares are either issued immediately subject to the company buying the shares back later under certain conditions (a reverse vesting agreement) or are granted over time (a vesting agreement).
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>
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> VESTING OR REVERSE VESTING AGREEMENT?
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>
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> The decision as to vesting vs. reverse vesting is largely tax-driven but granting shares immediately may make stakeholders feel like they're more of a team (there's a big emotional aspect to starting a company). In Canada, the potentially massive tax advantage to getting shares upfront (i.e. reverse vesting) is [taking advantage of the $750k lifetime capital gains exemption for CCPCs](http://business.financialpost.com/2013/10/16/plan-to-take-full-advantage-of-business-owners-capital-gains-exemption/) (talk to your accountant).
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>
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> [Cameron Huff, Vesting Agreement Terms for Tech Startups](https://www.cameronhuff.com/blog/vesting-agreement-terms-tech-start-ups/index.html)
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#WIP