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He said he was cut from working in the website
Pretty sure jeff sherdog doesn't existPretty sure you have Jeff Sherwood confused with Jeff Sherdog.
Any CEO/Founder that sells his/her company should expect to be relieved of their duties sooner rather than later. Same goes for the president (if separate), and nearly all upper management in a lot of cases. That’s how business works. The day the money hit his bank account, he knew he was on his way out.