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Owed a billion dollars in Nvidia stock

https://colo.to/nvidia-stock-narrative.html
92•Eric_Gullichsen•1h ago

Comments

Eric_Gullichsen•1h ago
Author here. I wanted to share this piece of personal and technical history from the early days of 3D graphics. The article covers the meeting on my houseboat with Jensen, Curtis, and Chris in 1993, working on biquadratic texture mapping for the NV1, and how Microsoft’s sudden pivot to triangles in DirectX nearly broke the company before their pivot to the RIVA 128. It also digs into the paperwork anomaly I recently uncovered regarding my Technical Advisory Board options and the vesting schedule. Happy to answer any technical questions about the early 90s VR/graphics scene or the NV1 era!
triyambakam•17m ago
The Kingdom of Tonga stood out to me. Are you still there? Why were you there? It's a very interesting place, especially for anyone not from there. I'm only adjacently aware as someone who spent most of my life in a different Polynesian country.
NDlurker•13m ago
How bad was the motion sickness back then and what kind of hardware were people using for the headsets?

Did anything progress past tech demos?

goodmythical•1h ago
tl;dr

OP was not given all of the shares earned at the time decades ago and didn't realize that they should've been payed out, but after engaging in a lawsuit realized that the court would likely not grant the case give the statute of limitations.

Kinda like all the Sony game 'owners' not carefully reasing the legally binding contracts they're always signing realizing that they are not in fact purchasing a gauranteed lifetime access to the game.

fblp•29m ago
Correction: The writer chose not to engage a lawsuit after receiving advice it was likely to be dismissed given 30 years had passed.
klausa•10m ago
I think that's an overly charitable reading.

Whether they "earned" them is disputable — the offer letter specifies one vesting schedule (25% every year), the "cover sheet" from the options agreement specifies other (25% every _quarter_).

So — the OP got the shares he was promised in the original offer letter; but later discovered that some of the documents he later got implied that the vesting schedule should be accelerated compared to what he agreed to.

I think that is probably the funniest way possible to earn a billion dollars; but whether he's "owed" that money/shares, is... up for a debate.

lquist•30m ago
Why does a stockholder have to reassert their rights to hold the stock that they already own?
whall6•25m ago
Plethora of reasons, but right to title is not as black and white as anyone assumes. There is no govt ledger that keeps track of who owns what, everything is always subject to interpretation. If you own a home, you likely had to purchase title insurance. If you don’t know what that’s for, look it up. It will give you the same answer to this question.
manwe150•17m ago
Also seems like it isn’t clear that they ever owned it. There appears to be a mistake in the contract asserting mutually inconsistent clauses, but it appears that both parties agreed on the not-owning interpretation for nearly 30 years, which might already be a far simpler contract resolution (depending on jurisdiction, it can almost immediately binding as soon as both parties accent to that reading) than also having waited out the statute of limitations
s0rce•22m ago
They don't own the stock as I understand it but never received options which they should have and would have been able to exercise. I assume they sold the remainder of the options long ago otherwise they have $3b in NVDA already and probably wouldn't have written this post.
binlog•19m ago
They do not own the stock, because the options never vested and thus were never exercised. The time to assert that claim was 30 years ago.
phonon•28m ago
Seems like you should sell your rights to the suit to a third party for a flat fee and percentage of recovery.
whall6•28m ago
Just commented the same thing and agree 100%.
tocs3•9m ago
What sort of law suit rights can be sold? This is a new concept for me. If I was hit by a Mack truck could I sell my rights to sue. It would seem to be a different type of case or are they both sort of the some. Injured by a truck vs. injured by you not holding up your end of the bargin?
phonon•6m ago
Pretty much any lawsuit right can be sold, except for personal injury lawsuits, due to specific state restrictions for public policy reasons.
whall6•28m ago
You should sell your right to litigate this. There are hundreds of firms that would pay you to take this on. Would involve near zero effort for you and would also check the box of being “about the principle”.
Legend2440•22m ago
Would they? Surely they'd realize that they too have no chance of winning because of the same issue.
binlog•18m ago
Why would anyone buy that right? Statute of limitations is crystal clear here. The case is going to get dismissed the moment it gets in front of a judge.
pclmulqdq•16m ago
There’s already a relatively liquid market here around legal financing, but they only finance cases that can win. This is not a case that will result in anything but a dismissal.
electriclove•20m ago
So the shares he did receive are worth well over $1B too right?
whall6•17m ago
Probably sold them a long time ago.
slopinthebag•20m ago
this is like finding your harddrive with 13,000 bitcoin but it's encrypted and you forgot the password
throw03172019•19m ago
Don’t options expire (ex. Leaving the company)? How would this work thirty years later?
warmwaffles•9m ago
If you exercise them, they are yours.
eadwu•14m ago
Not sure how to feel about it.

It seems like both you didn't caring about it during vesting or maybe they did a typo since it seems like you were vested over 4 years normally and the offer is over 4 years?

Anyway if someone did this to me this is pretty much grounds for an irreparable relationship. Though I guess it was worth the attempt for $1b.

pugworthy•8m ago
To satisfy the curious, "I have been everything, and nothing is worth it."

Well quoted.

jadar•5m ago
Thanks!
isatty•6m ago
Way of my league here but if it starts with a B and they said sue them, why not go ahead and sue them?

You’re not the only one who want to see this go somewhere.

wewewedxfgdf•6m ago
Big mistake.

These matters are not purely legal nor purely right and wrong.

They are personal and political too.

This is a fight you should have fought.

acchow•7m ago
> NVIDIA’s CFO wrote me a letter stating that 15,625 shares of my stock options had vested, and that I was required to exercise them. I did, and then forgot all about it.

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Owed a billion dollars in Nvidia stock

https://colo.to/nvidia-stock-narrative.html
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