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San Fransisco has always been able to attract startups and businesses in the past without these exceptions, why change now?
by seanalltogether 15y ago
San Fransisco has always been able to attract startups and businesses in the past without these exceptions, why change now?
- evgen 15y agoBecause applying the SF payroll tax to stock options is relatively new and prior to this year no one was in danger of actually IPOing so the point was moot.
- earl 15y agoBut SF hasn't, or at least I can't think of any big startups in the city, particularly that have stayed post IPO. Twitter is probably the largest at roughly 300 people. And honestly, do the math: if Twitter goes public for $10B, and they've given 20% of the company as options to execs and employees, thats 2e9 * $.015 = $30MM. That would sure ease the pain of moving out of the city while simultaneously paying a lot less rent.