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This. And yet, every week here we're regaled with pitiful cries from founders that "we can't recruit and hire enough talent!" Once faith in the offering of ear
by wyclif 15y ago
This. And yet, every week here we're regaled with pitiful cries from founders that "we can't recruit and hire enough talent!"
Once faith in the offering of early shares against under-market salaries erodes, good luck in hiring those "rock star" engineers you'll need to put your company over the hump for less than market rates.
- jjm 15y agoReminds me of what PG wrote in his 2004 essay: (snippet) ---- FROM: http://www.paulgraham.com/bubble.html http://www.paulgraham.com/bubble.html "What makes the nerds rich, usually, is stock options. Now there are moves afoot to make it harder for companies to grant options. To the extent there's some genuine accounting abuse going on, by all means correct it. But don't kill the golden goose. Equity is the fuel that drives technical innovation. Options are a good idea because (a) they're fair, and (b) they work. Someone who goes to work for a company is (one hopes) adding to its value, and it's only fair to give them a share of it. And as a purely practical measure, people work a lot harder when they have options. I've seen that first hand." The rest of the section is fantastic, go read it. ----