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They were granted a swift passage. Many should be thankful for that.
by sriram_sun 7y ago
They 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.