I see the current cold climate as the direct result of companies now taking a long time to sell or go public. The frameworks setup for early employees to make g

I see the current cold climate as the direct result of companies now taking a long time to sell or go public. The frameworks setup for early employees to make good on their loyalty and hard work were designed during a time when companies would only stay in startup mode for 4 to 5 years max. Now that companies are planning on 10+ years to IPO or sellout, they aren't changing their employee incentives to match expectations. No one wants to work for free, or cheap for an entire decade at one company. I actually applaud Snap Inc. for pushing ahead with an IPO early on in its lifetime. It's going to make millionaires out of all its early employees and start a 2nd wave to startups in LA that San Francisco hasn't had since Facebook and Twitter. People in SF are still waiting for AirBNB and Uber, Lyft, Stripe, Github, etc, these companies are turning over employees already that should have minted local millionaires ready to start the next wave.