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Kind of sux when they probably took paycuts to join with promises of equity riches
by eanzenberg 7y ago
Kind 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.