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In that case odds are the startup doesn't have sufficient funds to pay for the talent it (thinks it) needs. I'd argue that this means the startup is: a) mistake
by Iftheshoefits 13y ago
In that case odds are the startup doesn't have sufficient funds to pay for the talent it (thinks it) needs. I'd argue that this means the startup is: a) mistaken about its needs; b) poorly run; or c) a bad idea (e.g. the price the target market is willing to pay is insufficient to support even the optimally efficient startup's costs to provide service).
- prostoalex 13y agoWell, one way to attract quality people without sufficient funds is to be generous with equity. The more senior you get, the less sensitive potential early hires are to the salary levels - their investment income alone is likely to be multiples of whatever you plan to offer salary-wise. Getting them sold on owning a larger stake in an interesting company will probably get them excited.
- argonaut 13y agoThis misses the point. Prostoalex's point is that a senior engineer can pull $300k+ at a place like Google/Facebook/etc., all while working less than 9 hours a day with lavish perks. When a senior engineer goes off and tries to work at a startup, it is precisely because they want to try playing the lottery (with a very fat equity slice), not because they're going out to try and get a ultra-competitive cash salary.