This is the general rule, but not for ones the size of OpenAI. There’s always a secondary market for prominent enough companies.
This is the general rule, but not for ones the size of OpenAI. There’s always a secondary market for prominent enough companies.
Dont all private companies require approval for secondary sales, which I assume are not ever approved?
They do, but you sell forward contracts instead. This is perfectly legal, and the approach I've seen. There are a few companies, and even funds that will engage in this, in an effort to attain future upside.
Its pretty common, Ive personally done this.
Typically. I’d be shocked if OpenAI let employees sell their options like this without requiring approval
They don't but you effectively do it under the table
Do they sell at full value?
Whatever they sell them for is the value.
How do you define value without an IPO?