Ops Rundown: Issue #018
Hello Operators ??
We've got exciting news ??
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Moving on to the juice of this newsletter, here's what went down last week:
Months after Microsoft gained an observer seat on OpenAI’s board, the company is leaving the position of the non-voting seat.
In a letter sent to OpenAI on Tuesday, Microsoft said that the company has seen enough progress being made in the AI company and is confident in its direction, according to Axios.
OpenAI said that after this change, there won’t be any more observers on the board. That likely rules out reports of Apple gaining an observer seat. “We’re grateful to Microsoft for voicing confidence in the Board and the direction of the company, and we look forward to continuing our successful partnership,” OpenAI said in a statement sent to TechCrunch.
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409A Valuations are crucial to a startup’s success. They're not just a compliance checkbox; they're the bedrock of your company's valuation and let you attract top talent in the competitive startup ecosystem.
Here's how to get that done.
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July is usually a banner month for tax changes, particularly sales tax changes. On top of sales and use tax rate changes, there are changes to economic nexus, retail delivery fees, and sales tax holidays this month.
Unlike regular stock (where people own it immediately), unvested shares have a waiting period. Founders don't get full ownership until they meet certain goals or stick around for a set time. This can be tricky, but it has advantages!
Unvested shares can be a great way to keep your best people on board. They're like a reward for sticking with the company and helping it grow.
The bottom line is; understanding unvested shares can help you make smart choices about your team and the future of your startup.
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