5 ms·
My biggest problem is that I dislike my job but it has potential to pay off big and allow me to retire (Or at least, semi-retire) in ~5 years off the stock opti
by Sohcahtoa82 4y ago
My biggest problem is that I dislike my job but it has potential to pay off big and allow me to retire (Or at least, semi-retire) in ~5 years off the stock options.
Retiring at 45 seems pretty appealing. I could finally catch up on my massive library of games I've been wanting to play, not to mention reducing my alarm clock usage to likely 10 times a year, rather than 5 days a week.
- p1esk 4y agoit has potential to pay off big I hope you’re not talking about a startup lottery
- Sohcahtoa82 4y agoI am. And I do recognize that it's just that - a lottery. We could fail and I end up unemployed with nothing. Or a funding round could dilute my stock options to worthlessness.
- tw98521358 4y agoOr just regular old recession
- p1esk 4y agoIt does not make any sense to suffer through 5+ years of unsatisfying job with (relatively) low pay, just to have a very small (<5%) chance to make enough money to retire. This chance is actually much smaller if you own less than 5% of the company (i.e. not a founder or C-level). Source: worked for 7 startups in the last 20 years.
- Sohcahtoa82 4y agoMy base salary is actually above market by a decent margin. Total compensation is a little lower than market if you assume the options are worthless. But if we get to a $5B valuation, the value of my options would put me to a significantly over-market compensation, though not enough to retire. If we reached $30B, then that would give me ~$6M assuming no dilution.
- p1esk 4y agoWhat is the current valuation, or how much money have you raised, and how many rounds?
- Sohcahtoa82 4y agoOur current valuation is not public. I can't disclose it. But we've had 4 rounds of funding totaling $131M.
- p1esk 4y agoOne of the startups I used to work for in the past had 3 rounds, ~180M total, shut down 2 months ago. Investors lost almost all of their money, founders got nothing. I lost 20k I paid for my vested shares.
- Sohcahtoa82 4y agoI'm not buying my shares until we've gotten enough momentum that an IPO or buyout looks inevitable.