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> just become an angel investor Most people are not rich, even software developers. Only the rich can be angel investors, because it's illegal to issue securit
by dangrossman 11y ago
> just become an angel investor
Most people are not rich, even software developers. Only the rich can be angel investors, because it's illegal to issue securities to non-accredited investors. Being an accredited investor requires a net worth of $1M excluding your house, or a steady job with $200K/year pay ($300K if married), and 2 years at that pay level before you can start investing. There's no net worth or income requirement to work at a startup and get equity that way.
- morgante 11y agoTake a developer job at a top tech company and you'll be an accredited investor quickly enough.
- danieltillett 11y agoIf you are not able to earn $200,000 a year as a senior developer in the valley working at one of the established companies then you are not really the sort of person that would be an early hire by a first class startup. Joining a second rate start up is even a worse idea than working for an established company - you will end up with less pay and worthless options. Edit. Wow this comment hit a nerve with some people here.
- narrowrail 11y agoI think the problem is most people (even VCs) can't tell the difference between a "first class startup" and a "second rate start up." Your comment has a ring of elitism to it, not to mention a lack of consistency in phrasings that bothers us pedants.
- danieltillett 11y agoThey certainly can tell the difference. The ones they back are first class and the ones they don’t are second rate :P I was more making the point that it is not wise to turn down a good salary with an established company for the tiny level of equity that you will end up with at a startup and if the startup is not perceived by the investor community as being the next unicorn then this equity will be worthless.