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In corporate America, young people don't get tricked into working severely underpaid for equity that very often doesn't turn into a lot, and sometimes the emplo
by noemit 9y ago
In corporate America, young people don't get tricked into working severely underpaid for equity that very often doesn't turn into a lot, and sometimes the employees don't even realize they have to BUY the options and when it comes down to it, can't afford them. #Realtalk
In corporate America, it's not great, but it's less of a shill because people aren't pretending to save the world.
- siegel 9y agoI appreciate that perspective and I see your point. Most of the employee questions re: equity that I am privy too are fairly sophisticated. But, of course, many employees never ask questions and, therefore, my experience may give me a skewed perspective on the sophistication of startup employees. That being said, plenty of larger companies convince their employees (successfully) to "drink the Kool-Aid" and think that their company is saving the world. But, of course, those employees are also being paid a salary (unlike many startup employees, as you note).
- erikpukinskis 9y ago> In corporate America, young people don't get tricked into working severely underpaid for equity No, they just get tricked into working severely underpaid for cash. Unfair compensation is unfair compensation. Fraudulent valuations are fraudulent. It has nothing to do with silicon valley vs corporate America it has to do with fraud and people taking unfair advantage of information differentials.
- siegel 9y agoWell, I would say information differentials + a huge power imbalance. And I would add to that a huge cultural shift vs. decades ago in terms of what is considered "acceptable" and "moral" as relates to relative compensation of rank-and-file workers vs. executives. (One can debate the extent to which these cultural shifts are also the result of policy shifts.)