Last week, Zenefits CEO David Sacks made one of the more daring turnaround moves in recent Silicon Valley history.

Following several months of turmoil over compliance issues that led to the departure of the company’s founder in February, Sacks made what he called “The Offer.” In essence, any employee hired before February could take a generous buyout offer if they didn’t feel they could get behind his plan to save the company.

In response, I wrote:

“And it is a remarkable dare that has put the entire future of the company on the line. In fact, in throwing down this particular gauntlet at this particular moment, Sacks is taking a risk that could torpedo the entire company.”

The deadline for accepting The Offer was last Thursday. So how’d it go?

Today, Sacks revealed in a series of tweets:

No doubt, the 100 or so of the 1,100 employees who took the buyout will leave some holes to fill.

Still, it seems the bet paid off. And if Zenefits continues its comeback, Sacks’ moves in recent weeks will likely be remembered as one of Silicon Valley’s more amazing winning gambles.


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