3 ms·
It's not just that the reward for joining early is smaller than it used to be. It's also smaller compared to joining later. The marginal utility of money is act
by baddox 12y ago
It's not just that the reward for joining early is smaller than it used to be. It's also smaller compared to joining later. The marginal utility of money is actually what's causing the problem. If I can join a company late with very little risk and a much higher chance to make a few million, I'm probably much less incentivized to join a company early with the risks associated with that.
- droopyEyelids 12y agoBut in this system the incentive to join early is still several multiples, mind boggling multiples, of what it is to join later.
- ucaetano 12y agoJust as the risk is much, much higher. People just hear about those few who became bi/millionaires out of IPOs, not the thousands that never made it.