Ask HN: Anyone have stock option horror stories?
A friend of mine got a bunch of stock options, and exercised them. Then they tanked. He got hit with a tax bill so large it more than wiped him out. His family wound up in a trailer.Moral 1: When exercising options, sell enough on the same day to pay the tax bill.Moral 2: When dealing with large sums like that, consult with a CPA.