Re:Silicon Valley's best kept secret: Founder liquidity
by earnesti on Wednesday June 12, 2024 @05:09PM
(#40663160)
> There was never any upside for me.
That was because you negotiated and accepted a shitty deal. Unless someone scammed you into believing something that isnt' true, which I doubt. Founders can be overly optimistic, but it isn't same as scamming.
Startups are a difficult game. Everyone gotta watch for themselves. Don't blame on others if you accepted a suckers deal.
Re:Silicon Valley's best kept secret: Founder liquidity
by throwaway98797 on Wednesday June 12, 2024 @06:19PM
(#40663817)
laying off people who joined you on your dream is highly unpleasant
financially you are correct, but being a leader is mostly about the human stuff
This isn't the founder's risk. It's the employee's risk. And it has the added bonus of, if there is a liquidity event, the employee's don't get the upside.
I was like engineer #3 at a company that eventually was acquired for ~$250MM. My payout was $60,000, after 5 years of employment there. I could have made more by going and contracting at megacorp for a single year. There was never any upside for me.