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Detailed text transcripts for TV channel - MSNBC - 20140112:12:33:00

Story. in lieu of a salary, which they couldn t afford to pay they gave him a stake in the company. he was doing a lot of work for us but we felt the pressure to be protective of our equity. but they decided his work was worth more than just 10% and that motivating him with ownership was more important than retaining equity themselves so they gave him 20%. they didn t value the company at the time, which they should have, but looking back, david says the company was new, and worth about nothing. he saw problems, he went and fixed them. he saw opportunities, he went for them. and i think more importantly he saw a partner. the team also saw potential in volunteer stephanie appiah. there was blogging, rewriting of web content. again there was no money to pay stephanie. but there was ownership. stephanie just came in and started kicking butt at everything. so, after awhile, we said well we did this for dan. so we should do this for stephanie. not knowing the intricacies ....

The Company , Unvested Equity , Entrepreneur David Simnick , He Saw Opportunities , Volunteer Stephanie Appiah , He Saw Problems , Dan Doll , Web Content ,