4 ms·

That's reassuring. (putting in my two weeks notice tomorrow to be employee #1)

by lojack 15y ago

semanticist 15y ago
Make sure that you'd be happy if you worked long and hard for the start-up and all you got was the salary they're paying you + the experience. Even if the start-up is a huge success, the chances of you making substantial amounts of money are low, unless you have founder-level equity.
- gamble 15y ago
  My husband was an early employee at a company that was acquired in a mid-nine-figure deal. The founders walked away with at least a hundred million each. Employee #1 got a low seven-figure payout, after about ten years of grueling overtime. Keep in mind this was actually a company that is IMO unusually fair and considerate toward employees. You really need billions of dollars coming into a company before non-founders have a chance to make fuck-you money.
vegardx 15y ago
Not to worry, they've just read the article on why you should not be the first employee in a startup, and more specifically, what terms you should not necessarily agree too. Being the first employee of a startup can be the best thing since sliced bread. You take little risk (compared to the actual owners), yet the reward is usually way better than employee number 100. Who do you think is more likely to get 1) a bumb in pay and 2) a better position first?
- owenmarshall 15y ago
  Most startups don't get anywhere near employee #100. If you're in a startup that does, you'll likely be happy to be either #1 or #100. Being #1 means you work as hard as the owners but for much less -- often you will end up making less than you'd make elsewhere. Being an early hire seems to be about trading salary & security for experience running a business. Friends who have joined a startup early have said it's the absolute best way to learn what to do -- and many times, what not to do -- when you're starting your own company. Of course, YMMV. I've heard from plenty of early hires that don't end up near the business side, and don't get much out of it.
saturdayplace 15y ago
I know it's probably the furthest thing from your mind right now, but I think it'd be really interesting to hear how this works out, say a year or two from now
blrgeek 15y ago
The learning is incredible - esp. if you've never been in a startup before and you don't have a business background. Just go in with your eyes wide open, and don't expect to make any money off the stock options. Figure out what you need to do to get your startup off the ground better. Be flexible in doing whatever necessary as Employee #1. Had huge learning in 6 years. So although I took a pay cut, and I made 0 on stock - I would recommend it to others.

That's reassuring. (putting in my two weeks notice tomorrow to be employee #1)

by lojack 15y ago

That's reassuring. (putting in my two weeks notice tomorrow to be employee #1)

Make sure that you'd be happy if you worked long and hard for the start-up and all you got was the salary they're paying you + the experience. Even if the start-up is a huge success, the chances of you making substantial amounts of money are low, unless you have founder-level equity.

gamble 15y ago
My husband was an early employee at a company that was acquired in a mid-nine-figure deal. The founders walked away with at least a hundred million each. Employee #1 got a low seven-figure payout, after about ten years of grueling overtime. Keep in mind this was actually a company that is IMO unusually fair and considerate toward employees. You really need billions of dollars coming into a company before non-founders have a chance to make fuck-you money.

vegardx 15y ago

Not to worry, they've just read the article on why you should not be the first employee in a startup, and more specifically, what terms you should not necessarily agree too. Being the first employee of a startup can be the best thing since sliced bread. You take little risk (compared to the actual owners), yet the reward is usually way better than employee number 100. Who do you think is more likely to get 1) a bumb in pay and 2) a better position first?

owenmarshall 15y ago
Most startups don't get anywhere near employee #100. If you're in a startup that does, you'll likely be happy to be either #1 or #100. Being #1 means you work as hard as the owners but for much less -- often you will end up making less than you'd make elsewhere. Being an early hire seems to be about trading salary & security for experience running a business. Friends who have joined a startup early have said it's the absolute best way to learn what to do -- and many times, what not to do -- when you're starting your own company. Of course, YMMV. I've heard from plenty of early hires that don't end up near the business side, and don't get much out of it.

saturdayplace 15y ago

I know it's probably the furthest thing from your mind right now, but I think it'd be really interesting to hear how this works out, say a year or two from now

blrgeek 15y ago

The learning is incredible - esp. if you've never been in a startup before and you don't have a business background. Just go in with your eyes wide open, and don't expect to make any money off the stock options. Figure out what you need to do to get your startup off the ground better. Be flexible in doing whatever necessary as Employee #1. Had huge learning in 6 years. So although I took a pay cut, and I made 0 on stock - I would recommend it to others.