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$100k in stock at vest time valuation is an huge amount. If your are an employee with a quite large 0.05% equity grant per year, that's a $2Billion unicorn alr

by gowld 7y ago

$100k in stock at vest time valuation is an huge amount. If your are an employee with a quite large 0.05% equity grant per year, that's a $2Billion unicorn already that is ready to IPO or buy back shares from employees. > around here it’s barely a living wage I dare you to say that to your janitor or receptionist.

riazrizvi 7y ago
Working in a startup that turns into a pre-ipo $2bn unicorn is like winning the startup lottery. The majority of years spent in early stage startups is spent accumulating worthless stock, where paper valuations will never materialize outside a funding negotiation room. > I dare you to say that to your janitor or receptionist. Yes I understand unskilled workers are worse off, but I’m not sure what your argument is there.
hurricanetc 7y ago
> I dare you to say that to your janitor or receptionist. Whataboutism. Just because other problems exist does not make this problem not exist.
kdamica 7y ago
Janitors in SF doing pretty well: https://www.cnbc.com/2016/11/04/how-one-bay-area-janitor-made-276000-last-year.html https://www.cnbc.com/2016/11/04/how-one-bay-area-janitor-mad...
- skinnymuch 7y ago
  That guy has some level of seniority so he can work an average of 11 hours a day, 365 days a year. If you lower that to averaging not working 5 days every 2 months (so still working 56 of 61 days every 2 months), he’d be averaging 12 hours a day. This possibly makes the case even worse for janitors than help showing how they fare. Roughly estimating. If a person has 2 days off per week (weekends) and either 12 or 24 total days off a year from federal holidays, sick days, vacation days, that is an average of 20 or 21 working days a month.
dallbee 7y ago
There's a lot of knee-jerk reaction going on in this thread, and yet I don't think this bill would actually apply to anyone complaining.
skinnymuch 7y ago
The chance of getting in early enough to a $2B company that exits comfortably has to be under 1%. Maybe under 0.5%. CB Insights has an article from a few years ago saying 1.28%. Taking out companies below $2B, companies that didnt pan out so well (Magic Leap, Zenefits, WeWork), and you doing the right things to take advantage of your equity, I’m guessing that number drops to 0.35% or 0.25% or 1 in 300-400 startups. Might as well not consider such an unlikely scenario. Plus if things don’t pan out at a startup and you’re just looking for money. You quite possibly made less during those years.

by gowld 7y ago

riazrizvi 7y ago

Working in a startup that turns into a pre-ipo $2bn unicorn is like winning the startup lottery. The majority of years spent in early stage startups is spent accumulating worthless stock, where paper valuations will never materialize outside a funding negotiation room. > I dare you to say that to your janitor or receptionist. Yes I understand unskilled workers are worse off, but I’m not sure what your argument is there.

hurricanetc 7y ago

> I dare you to say that to your janitor or receptionist. Whataboutism. Just because other problems exist does not make this problem not exist.

kdamica 7y ago

Janitors in SF doing pretty well: https://www.cnbc.com/2016/11/04/how-one-bay-area-janitor-made-276000-last-year.html https://www.cnbc.com/2016/11/04/how-one-bay-area-janitor-mad...

skinnymuch 7y ago
That guy has some level of seniority so he can work an average of 11 hours a day, 365 days a year. If you lower that to averaging not working 5 days every 2 months (so still working 56 of 61 days every 2 months), he’d be averaging 12 hours a day. This possibly makes the case even worse for janitors than help showing how they fare. Roughly estimating. If a person has 2 days off per week (weekends) and either 12 or 24 total days off a year from federal holidays, sick days, vacation days, that is an average of 20 or 21 working days a month.

dallbee 7y ago

There's a lot of knee-jerk reaction going on in this thread, and yet I don't think this bill would actually apply to anyone complaining.

skinnymuch 7y ago

The chance of getting in early enough to a $2B company that exits comfortably has to be under 1%. Maybe under 0.5%. CB Insights has an article from a few years ago saying 1.28%. Taking out companies below $2B, companies that didnt pan out so well (Magic Leap, Zenefits, WeWork), and you doing the right things to take advantage of your equity, I’m guessing that number drops to 0.35% or 0.25% or 1 in 300-400 startups. Might as well not consider such an unlikely scenario. Plus if things don’t pan out at a startup and you’re just looking for money. You quite possibly made less during those years.