“Livemind Inc., a San Francisco wireless startup, is facing a mass defection by employees who claim that venture capitalists are making off with an unfair share of the company’s equity and leaving them with virtually nothing. According to employees, most of Livemind’s staff of 35 to 40 stayed home yesterday, jarred by the firing of Chief Executive Officer Karen Wilson on Friday. Wilson’s supporters say her ouster is related to controversial loan terms proposed by the VC firm.”

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