> "we are paying you market rate, you are reinvesting some of that in exchange for equity"
We didn't represent it like that at all. We were very upfront that we just don't have the money to pay them today what they expect, but we believe that this is a good market and we have the right team to become successful. Also that we understand that this is a huge risk they're taking, and so we will reward that with much higher equity. Some people were ok with it, some weren't and passed on our offer, and we fully respected that.
We didn't represent it like that at all. We were very upfront that we just don't have the money to pay them today what they expect, but we believe that this is a good market and we have the right team to become successful. Also that we understand that this is a huge risk they're taking, and so we will reward that with much higher equity. Some people were ok with it, some weren't and passed on our offer, and we fully respected that.