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They did not "give away" their time; they were compensated at a fair market value for their time. I believe this is what we call "employment."
by proee 10y ago
They did not "give away" their time; they were compensated at a fair market value for their time. I believe this is what we call "employment."
- tluyben2 10y agoIf it was a fair salary. A lot of places try to pay low and give shares for payout in the future. Many young and techie people go for that if they are enthusiastic about the idea.
- pdpi 10y agoAt a fair market value -- except if it was an early stage startup it was discounted from market value, with subpar benefits, but with a "tonne" of (now worthless) equity. It is in many ways personally more rewarding, but taking a job in a startup versus a well-established business is taking a risk, accepting subpar conditions today for a shot at a big prize later on.
- proee 10y agoThe company has been around for 10 years, with hundreds of millions in funding through multiple rounds, so I would not consider this a "startup". The employees were/are highly paid and not assuming any real risk.