Jimmy rejects share options from Knight, demanding cash despite the firm’s projected growth and competitor’s exit. He cites a high business failure rate and his past refusal of a substantial startup stake, insisting on a guaranteed annual payment over potentially higher future returns. Jimmy’s calculated move prioritizes immediate financial security, leaving Knight to grapple with the consequences of Jimmy’s unwavering demand for cash.
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Knight didn’t know at this time that Jimmy already had other plans.
Although he was reluctant to give up the 200,000 share option, but when he thought about the giant Rothschild family standing behind Jimmy, he could only grit his teeth and agree, saying: “Okay! 200,000 shares equals 200,000 shares.” hundreds of thousands of stock options, it is relatively safe to receive US$12 million per year. Because our business is not only increasing, the annual dividend amount will definitely increase further. Jimmy, you are at Ellis Law Firm.
Although Knight made this decision with the belief that a strong man would slit his wrists, Jimmy frowned again this time.
Because after doing some simple calculations, Jimmy comes to the conclusion that he now needs cash rather than options.
Options are more like betting on whether a company will thrive in the future.
If the company grows rapidly, an option worth a million today might be worth tens of millions or more next year. However, if the company starts to decline, an option worth a million today may only be worth 100,000 or even more next year at a lower price.
All the board members sitting here feel that Ellis Law Firm will thrive in the future, not only because they have the best team and the greatest reputation in the United States, but also because one of their biggest competitors, Smith The Law Company has shifted its focus to China. Although they have not given up their business in the United States, because their main focus has been shifted, the total business volume in America has naturally decreased to a certain extent Law Firm growth point.
But Jimmy knew very well that if he walked out of here with ten of his key members, Ellis Law Firm would definitely enter a period of rapid decline. In this case, what options are necessary? Of course cash is the safest option.
So he said: “I am relatively narrow-minded. When my oldest brother and sister-in-law founded the Smith Law Firm, they offered me 30% of the stock to join and start business with them. I think the failure rate of starting a business is Gao, I don’t have a job that can be paid monthly, so I don’t agree. Now that you have given me a choice, I still think it is safer than cash.”
Afterward, he added: “Let’s do this. We’re still going to sign a ten year deal, but I don’t want any part of that option. I will also return all the options given to me previously. Didn’t Knight just say that these two hundred thousand options were for one year?” Can you share at least 12 million, and will you share more in the future? OK, I will return 200,000 options to you. In the next ten years, you only need to give me 10 million in cash every year. US dollars, even if the company’s performance gets better in the future, and the 200,000 options can be divided into 20 million or more every year, I will not regret coming to you to change the agreement. In the next ten years, I only want cash.