3 ms·

I wonder if they're regretting the "no employee equity" policy now.

• ggreer 5y ago
  What? After two years, every Basecamp employee starts getting shares that pay dividends.[1] Their handbook also claims that employees will get 10% of the value of the company if it is ever sold or goes public (though they plan to never do so). https://basecamp.com/handbook/08-benefits-and-perks#employee-profit-sharing https://basecamp.com/handbook/08-benefits-and-perks#employee...
  • NationalPark 5y ago
    Exactly, it's a profit sharing program that encourages good year over year results, not something that rewards you with assets that may be worth a whole lot of money, but only in 10 years. I guess it comes down to numbers though. How much money was this profit sharing incentive giving to most employees? And how many users did they lose this week?
  • robocat 5y ago
    "We ask that you think of any compensation from this program as not something to be counted upon, not something to be budgeted with, but as a true bonus. Year to year, profits and therefore the amount we’re able to share with employees may swing wildly or not be paid out at all." Does anyone add in randomness (dice?) to actually enforce the feeling that profits/bonuses can swing wildly? "This Program does not have any set expiration date, but the company reserves the right to amend it or cancel it at any time. You forfeit your shares in the profit sharing program if you resign or are terminated from Basecamp." So not equity. Profit sharing.