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Very good post, aside from this: "So if you join a startup and don’t exercise, you should probably try to stick it through to an exit." No. If you're thinking
by herdrick 15y ago
Very good post, aside from this: "So if you join a startup and don’t exercise, you should probably try to stick it through to an exit." No. If you're thinking of quitting, presumably an exit which will make you rich is not imminent. Hanging on to a job when you have better alternatives elsewhere so as not to lose the possible value of your options usually is a tragic case of the 'endowment effect' bias in action.
- dweekly 15y agoFair. I should probably have better written it: "If you join a startup and don't ever want to exercise, the only way to get to liquidity will be to stick it through to acquisition, which might be a long haul."
- herdrick 15y agoI only bring it up because a lot of people do "try to stick it through to an exit" only due to that bias. It's a sad waste of talent. EDIT: In fact, I think that whole section should say the opposite: "2. Refusing to quit with unexercised options"