5 ms·

The 300k-500k range is risky RSU paper money outside of FAANG. Uber and Lyft engineers know that now. Pretend money met reality.

marcinzm 6y ago
There's always risk that the stock price will drop due to a large scale economic event. Lyft and Uber were hit particularly hard this time due to their markets however in past recessions large tech companies weren't immune except long term. As for layoffs, it's still only a small percentage of Lyft and Uber engineers. So not that risky all things considered and they did pay better than FAANG to make up for that.
- deleted 6y ago
  [deleted]
- deleted 6y ago
  [deleted]
chrisseaton 6y ago
> Pretend money met reality. Do you realise you can sell it to get real money? If you were doing that every year and treating your RSUs are a normal part of your compensation then you would have been taking home your entire half-million or so pre-tax as an engineer at Uber. That's not pretend money.
- almost_usual 6y ago
  > Do you realise you can sell it to get real money? You do realize they’re worthless until you vest right? I’m pretty sure Uber and Lyft are on a one year cliff. That’s one year of risk and what do you know, those RSUs just vaporized.. The only non FAANG RSUs making money now are real tech companies, not these service industries masquerading as tech.
  - marcinzm 6y ago
    Lyft removed the vesting cliff for those laid off, gave them 10+ weeks of severance and accelerated vesting of RSUs. The only issue is that the stock price is down 40% but recessions can do that to any company regardless of size. Still worth quiet a bit even with that drop. So, what's your point again?
    - almost_usual 6y ago
      The point is you signed up for 400k got 300k at best assuming you’re at a 200k base. You could have joined FB and probably gotten a 100k signing bonus on top of what you had in RSUs and you’d still have a job. These companies were masquerading and pretending they can compete with FAANG, they can’t.
      - marcinzm 6y ago
        If you had a Facebook offer and it's been under a year then it's almost certainly still valid. So you sell the accelerated vesting RSUs, cash in the severance and join Facebook. Given the accelerated vesting and severance you're going to make about as much as originally expected. Not sure why you consider getting laid off a problem for someone who has Facebook offers in the recent past. It's the people still employed at Lyft that are in a harder position versus having taken a Facebook offer. That's however a quirk of the pandemic, in any other recession your Facebook RSUs would be tanking in value as well.
        almost_usual 6y ago
        In any recession Lyft and Uber would be tanking more than Facebook. The whole salient of my argument is that these companies had weak business models and now they are being exposed. They were never going to be profitable.
salamigg 6y ago
Just to give you some real numbers as an eng at Uber: The stock is down roughly 27% of what my pre-IPO offer was. TC-wise, I’m sitting at ~390k vs ~440k. Roughly 12% less than what I was expecting. It sucks but it’s not the end of the world.

marcinzm 6y ago

There's always risk that the stock price will drop due to a large scale economic event. Lyft and Uber were hit particularly hard this time due to their markets however in past recessions large tech companies weren't immune except long term. As for layoffs, it's still only a small percentage of Lyft and Uber engineers. So not that risky all things considered and they did pay better than FAANG to make up for that.

deleted 6y ago
[deleted]
deleted 6y ago
[deleted]

chrisseaton 6y ago

> Pretend money met reality. Do you realise you can sell it to get real money? If you were doing that every year and treating your RSUs are a normal part of your compensation then you would have been taking home your entire half-million or so pre-tax as an engineer at Uber. That's not pretend money.

almost_usual 6y ago
> Do you realise you can sell it to get real money? You do realize they’re worthless until you vest right? I’m pretty sure Uber and Lyft are on a one year cliff. That’s one year of risk and what do you know, those RSUs just vaporized.. The only non FAANG RSUs making money now are real tech companies, not these service industries masquerading as tech.
- marcinzm 6y ago
  Lyft removed the vesting cliff for those laid off, gave them 10+ weeks of severance and accelerated vesting of RSUs. The only issue is that the stock price is down 40% but recessions can do that to any company regardless of size. Still worth quiet a bit even with that drop. So, what's your point again?
  - almost_usual 6y ago
    The point is you signed up for 400k got 300k at best assuming you’re at a 200k base. You could have joined FB and probably gotten a 100k signing bonus on top of what you had in RSUs and you’d still have a job. These companies were masquerading and pretending they can compete with FAANG, they can’t.
    - marcinzm 6y ago
      If you had a Facebook offer and it's been under a year then it's almost certainly still valid. So you sell the accelerated vesting RSUs, cash in the severance and join Facebook. Given the accelerated vesting and severance you're going to make about as much as originally expected. Not sure why you consider getting laid off a problem for someone who has Facebook offers in the recent past. It's the people still employed at Lyft that are in a harder position versus having taken a Facebook offer. That's however a quirk of the pandemic, in any other recession your Facebook RSUs would be tanking in value as well.
      - almost_usual 6y ago
        In any recession Lyft and Uber would be tanking more than Facebook. The whole salient of my argument is that these companies had weak business models and now they are being exposed. They were never going to be profitable.

salamigg 6y ago

Just to give you some real numbers as an eng at Uber: The stock is down roughly 27% of what my pre-IPO offer was. TC-wise, I’m sitting at ~390k vs ~440k. Roughly 12% less than what I was expecting. It sucks but it’s not the end of the world.