5 ms·

>At least 1/3 of the staff, when confronted with their true relations with their management, then decided to quit. At least 1/3 of staff, when offered either 3

>At least 1/3 of the staff, when confronted with their true relations with their management, then decided to quit. At least 1/3 of staff, when offered either 3 or 6 months of salary just for switching employers, accepted it. I feel like you'd get similar rates, potentially higher, at any employer recent incident or not. If you have the career power to quickly slot in to an equivalent job elsewhere, you just cut years off of your retirement date. I don't think any "its really about" take can ignore that.

busterarm 5y ago
Given how much higher Basecamp pays than almost the entire rest of the industry, it's extremely likely that most of these staffers will be taking a significant pay cut. Remember, Basecamp pays the 90th percentile of San Francisco rates + profit sharing kickbacks for a company that's fully remote. Regardless of position.
- angry_octet 5y ago
  As I understand it, no stock though. There is no potential that you would, via Hey, be able to cash out. (And frankly, I can't see the technical or user appeal of Hey, it seems very bleh. I'd rather work on Signal any day.)
  - busterarm 5y ago
    Why would you want stock in a company that has no intention of being sold? Especially when they're making up the difference in cold hard cash that you can use to buy whatever other rocketship you think is out there. If you're looking to cash in on a unicorn, you are almost always better off working somewhere else that will pay you the most in cash and using that cash to make your unicorn bets.
    - angry_octet 5y ago
      Well exactly. No IPO, no buyout on the horizon. Stocks would be a less valuable compensation than cash. But the allure of partaking in massive success in a revolutionary startup is pretty significant. Less so if you have a steady salary perhaps, but I wouldn't be surprised to see a few of these people use the safety net of savings and a solid technical rep to try some riskier innovation. I really can't believe I'm explaining startup allure on HN.
      - busterarm 5y ago
        I think I made it clear that's a trap that mostly suckers fall into. You can still partake in the massive success of revolutionary startups with your cash. In fact, you're in a much better position to, because if you're making a lot of cash, odds are you are senior and connected in your field. You have better odds of picking winners and investing in them. There's also opportunity to buy pre-IPO shares.
        angry_octet 5y ago
        How would you buy pre-IPO without options?
        busterarm 5y ago
        Equity exists pre-IPO and people/companies sell it. There's even gray markets for trading it. Being a qualified investor (which you can get to from zero in as little as 4-5 years if you're making FAANG cash) helps a lot.

busterarm 5y ago

Given how much higher Basecamp pays than almost the entire rest of the industry, it's extremely likely that most of these staffers will be taking a significant pay cut. Remember, Basecamp pays the 90th percentile of San Francisco rates + profit sharing kickbacks for a company that's fully remote. Regardless of position.

angry_octet 5y ago
As I understand it, no stock though. There is no potential that you would, via Hey, be able to cash out. (And frankly, I can't see the technical or user appeal of Hey, it seems very bleh. I'd rather work on Signal any day.)
- busterarm 5y ago
  Why would you want stock in a company that has no intention of being sold? Especially when they're making up the difference in cold hard cash that you can use to buy whatever other rocketship you think is out there. If you're looking to cash in on a unicorn, you are almost always better off working somewhere else that will pay you the most in cash and using that cash to make your unicorn bets.
  - angry_octet 5y ago
    Well exactly. No IPO, no buyout on the horizon. Stocks would be a less valuable compensation than cash. But the allure of partaking in massive success in a revolutionary startup is pretty significant. Less so if you have a steady salary perhaps, but I wouldn't be surprised to see a few of these people use the safety net of savings and a solid technical rep to try some riskier innovation. I really can't believe I'm explaining startup allure on HN.
    - busterarm 5y ago
      I think I made it clear that's a trap that mostly suckers fall into. You can still partake in the massive success of revolutionary startups with your cash. In fact, you're in a much better position to, because if you're making a lot of cash, odds are you are senior and connected in your field. You have better odds of picking winners and investing in them. There's also opportunity to buy pre-IPO shares.
      - angry_octet 5y ago
        How would you buy pre-IPO without options?
        busterarm 5y ago
        Equity exists pre-IPO and people/companies sell it. There's even gray markets for trading it. Being a qualified investor (which you can get to from zero in as little as 4-5 years if you're making FAANG cash) helps a lot.