5 ms·

I had a unicorn's VP-operations try to convince me that my job-offer isn't below market - I should be valuing their stock at 10-100x the valuation used in their

by noego 7y ago

I had a unicorn's VP-operations try to convince me that my job-offer isn't below market - I should be valuing their stock at 10-100x the valuation used in their most recent round (a few months ago), because this company is sure to become the next big thing.

xyzzy_plugh 7y ago
That's disgusting. It should be illegal to mislead people like this. Employees aren't like A16z, they're not getting preferred shares and their primary source of income isn't likely to be investing in corps. Stuff like this can ruin people's lives.
- jakobegger 7y ago
  > Stuff like this can ruin people's lives. But does it really? Sure, it sucks if you get tricked to accept a lower salary, but I'd assume that even a below average software developer salary will be enough to lead a somewhat comfortable life.
  - Aarostotle 7y ago
    Think about it this way: Joining a startup is an opportunity to be part of a team that's doing something really hard, so you need to trust each other. Lying about the compensation structure isn't a good foundation for trust. Now, you're spending at least a year of your life, working 40+ hour weeks in close proximity to someone who cheaply misled you.
    - dmitrygr 7y ago
      s/40/80/g
  - op00to 7y ago
    Can you give me some money? you seem comfortable. $40k ought to do it. Thanks.
- fizx 7y ago
  It is illegal, which is why you'll never see them do it in writing.
  - eropple 7y ago
    It is? I'd believe it, but I'm naive on these matters. Can you explain?
chrshawkes 7y ago
I had a company in Richmond try to get me to work part time in exchange for stock. They haven't even had an initial round of funding yet. Same situation, told it was to be the next big thing. I'm a gambling man, most projects won't get off the ground, most won't last 3 years, even fewer will reach IPO. We have a lot of crackpots in this industry who think an idea is actually worth something.

by noego 7y ago

xyzzy_plugh 7y ago

That's disgusting. It should be illegal to mislead people like this. Employees aren't like A16z, they're not getting preferred shares and their primary source of income isn't likely to be investing in corps. Stuff like this can ruin people's lives.

jakobegger 7y ago
> Stuff like this can ruin people's lives. But does it really? Sure, it sucks if you get tricked to accept a lower salary, but I'd assume that even a below average software developer salary will be enough to lead a somewhat comfortable life.
- Aarostotle 7y ago
  Think about it this way: Joining a startup is an opportunity to be part of a team that's doing something really hard, so you need to trust each other. Lying about the compensation structure isn't a good foundation for trust. Now, you're spending at least a year of your life, working 40+ hour weeks in close proximity to someone who cheaply misled you.
  - dmitrygr 7y ago
    s/40/80/g
- op00to 7y ago
  Can you give me some money? you seem comfortable. $40k ought to do it. Thanks.
fizx 7y ago
It is illegal, which is why you'll never see them do it in writing.
- eropple 7y ago
  It is? I'd believe it, but I'm naive on these matters. Can you explain?

chrshawkes 7y ago

I had a company in Richmond try to get me to work part time in exchange for stock. They haven't even had an initial round of funding yet. Same situation, told it was to be the next big thing. I'm a gambling man, most projects won't get off the ground, most won't last 3 years, even fewer will reach IPO. We have a lot of crackpots in this industry who think an idea is actually worth something.