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I've gone through 6 startup IPOs since 1999 in the valley, and have watched as it went from a way to reward employees to a whole lot of voodoo bullshit. I'm a l
by 1_2__3 10y ago
I've gone through 6 startup IPOs since 1999 in the valley, and have watched as it went from a way to reward employees to a whole lot of voodoo bullshit. I'm a little stunned when I see people still talking about the startups they work for and possibly making it big - that doesn't happen anymore. You are being lied to.
- hkmurakami 10y agoGenuinely curious what you think has changed. Liquidity events are certainly much later than they used to be. What else has had negative effects? Late stage ratchet terms?
- beachstartup 10y agoif the founder(s) of the company got really rich, but the company is still owned by VCs, there is almost definitely "voodoo bullshit" going on. it's customary to take some money to alleviate the everyday financial stresses of life and to maybe buy a decent house because people have families, but the original intent behind the IPO was designed to align everyone's incentives. when they aren't aligned i.e. when there is a super-class of owners that already cashed out, it's going to end badly for the people who aren't in control. everyone who got in early is already rich or completely exited, and more idiots keep piling onto the funding rounds... hmm... what does that sound like?
- xor1 10y agoUnless you are extremely close with the founders.