5 ms·
Feel bad for the employees, not sure how much their options would be worthy of right now...
by xxxpupugo 7y ago
Feel bad for the employees, not sure how much their options would be worthy of right now...
- jedberg 7y agoIf the price barely covered the VCs I doubt the employees got anything.
- sriram_sun 7y agoThey were granted a swift passage. Many should be thankful for that.
- eanzenberg 7y agoKind of sux when they probably took paycuts to join with promises of equity riches
- jonathankoren 7y agoNever join a startup to get rich. Your option are lottery tickets, and most likely worthless. In fact, they’re worthless, right up until a liquidity event, and many times — like now — they’re still worthless.
- eanzenberg 7y agoIt’s now extremely ill-advised to join a startup. There are barely any advantages unless you are 1) young 2) a cofounder or 3) some altruistic reason. If you are neither these things, it’s completely not worth it.
- jedberg 7y agoYou forgot 4) Want a chance to gain a lot of experience and responsibility quickly.
- ghaff 7y agoIn all fairness, that is probably a subset of 1.
- dbancajas 7y agowhat is the current alternative to this? How do you gain a lot of equity from a pre-IPO company? Is being a VC the only thing?
- eanzenberg 7y agoWhy would you want equity from a pre-IPO company? Even for cofounders, who start with let's say ~40% equity, for the duration of their efforts, the majority will have made more money if they were senior leaders at bigger companies. There are opportunities to buy pre-ipo stock, so yes you can just use money.
- vlozko 7y agoJust don’t work for a startup. I did it for 8 years. I know it’s not compared to some but I never made it rich from any of my ventures. Won’t ever do it again now that I’m in a Fortune 500 company. At first it can feel like I’m a number and I can get as passionately involved in a project but I like money. And now I have it and a solid work/life balance.
- toasterlovin 7y agoThe employees are all machine learning engineers with a focus on autonomous vehicles (aka, the current hot shit in machine learning), which means they're probably all making $300k+ per year at the low end. They'll be fine.
- eanzenberg 7y agoLol if you think that they make that much at a failing startup
- jonathankoren 7y agoBut they’re no longer at a failing startup. They’re at Apple.
- natch 7y agoLol if you think they make that much at Apple. But the original point stands. They should be able to get good paying jobs somewhere.
- tgsovlerkhgsel 7y ago300k is roughly the levels.fyi estimate for Apple, level ICT4 (which is considered a slightly lower level than Google L5, Facebook E5). Why would engineers in a highly sought-after field not make that much at Apple?
- wolco 7y agoYou'd be surprised how low pay is in sought-after fields. Everyone wants in and accepts less.
- natch 7y agoApple is not known for high pay. Employees get little plaques that say “the journey is the reward.” And your 300k from levels.fyi is not base salary. Base salary is listed as 180k, more in line with reality.
- eanzenberg 7y ago0.0 is what the employees got