“I’ve seen this go wrong, bad wrong,” he wrote in his blog post. Wang said he got a fresh round of calls about the loans anytime the market overheated and always felt obligated to explain the risks. Ted Wang, a former start-up lawyer and an investor at Cowboy Ventures, was so alarmed by the loans that he published a blog post in 2014, “ Playing With Fire,” advising against them for most people. But critics said the loans created needless risk in an already-risky industry and were reminiscent of the dot-com era in the early 2000s, when many tech workers were badly burned by loans related to their stock options. Proponents said the loans were necessary for employees to participate in tech’s wealth-creation engine. The proliferation of these loans has ignited a debate in Silicon Valley. “Everyone’s only thinking about the upside.” “No one’s been thinking about what happens when things go down,” said Rick Heitzmann, an investor at FirstMark Capital. These providers estimate that start-up employees around the world hold at least $1 trillion in equity to lend against. In recent years, companies such as Quid and Secfi have sprung up to offer loans or other forms of financing to start-up employees, using the value of their private company shares as a sort of collateral. The company tried to help them figure out options for repayment, said a person with knowledge of the situation who spoke anonymously because the person was not authorized to speak publicly.īolt’s program was the most extreme example of a burgeoning ecosystem of loans for workers at privately held tech start-ups. That set off a 90-day period for those who had taken out the loans to pay the money back. So Bolt began providing them with loans - some reaching hundreds of thousands of dollars - against the value of their stock. ![]() They owned stock options in the company, some worth millions of dollars on paper, but couldn’t touch that money until Bolt sold or went public. Victor is an accomplished professional with comprehensive knowledge and experience in all the above.SAN FRANCISCO - Last year, Bolt Financial, a payments start-up, began a new program for its employees. This led him to have extensive experience in teaching and improving the quality of life of both adults and children, including those with a disability and/or special needs. He graduated from Cheltenham University in 1993 with a BSc (Hons) in Recreation Studies & Sociology and was also a certified Swimming and Fitness Instructor. Sports and exercise have always been a core component of Victor's life, which have included rugby, athletics, swimming and martial arts. This led him on to study for a PGCert in Podiatric Sports Medicine which he was awarded in 2021. Victor also works privately and for the last four years has specialised predominantly in Sports Medicine. ![]() He then became the Biomechanics Clinical Lead for the Royal Marsden Sutton Community Services and continues to practice in this post. Within two years, Victor was promoted to Biomechanics Clinical Lead and remained with this Trust until its merger with the Royal Marsden in 2016. Subsequently, he practised in the NHS at Hammersmith & Fulham Health Services for two years before working at Sutton & Merton Community Services in Biomechanics for adults and paediatrics. Victor graduated from the University of East London with a BSc (Hons) in Podiatric Medicine in 2008. Qualifications: Qualifications: BSc (Hons) Podiatric Medicine, MFPM RCPS (GLASG), BSc (Hons) Recreation Studies & Sociology, Postgraduate Steroid Injection Training, Postgraduate Rehabilitation in Podiatry Training
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