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The big thing that has been slipped in is the yearly granting of shares. This means that people with the risk appetite will no longer have a shot at possibly hi
by rmk 5y ago
The big thing that has been slipped in is the yearly granting of shares. This means that people with the risk appetite will no longer have a shot at possibly higher upside. This also gives employees incentives to hop on the leetcode bandwagon, interviewing towards the beginning of every anniversary to ensure they are not booted out or forced out via reduced pay packages.
Every year the VCs and greedy founders are finding new ways to screw engineers over. First, it was the AirBnB founders cashing out while still building the company (https://techcrunch.com/2011/10/01/chamath-palihapitiya-airbnb-liquidity-everyone https://techcrunch.com/2011/10/01/chamath-palihapitiya-airbn...), now we have Stripe and others shifting to yearly grants. It appears that there is very little incentive for employees to stick around for more than two years maximum at any one place, which is a shame because it will lead to a loss of valuable experience (supporting your coding/architecture mistakes and learning from them) and loss of the ability to capture the value they have created.
- dilyevsky 5y agoIn reality they are just screwing themselves over with high turnover and ghosting from a candidate if an offer comes in lower than competition. They’ll walk it back quietly in a year (if it lasts that long) in a job market like this.