Not buying Apple Stock in 1999 cost me $200M too. Not to mention what not picking those winning lottery numbers cost me...
It might not be too late for the lottery numbers! I can't find it now, but I remember reading about a guy who was arrested in China for buying winning lottery numbers after they'd already been announced. The semi-surprising thing, to me, was that he did this more than once. Seems like a clear example of when you should take the win, and then leave in dignified haste.
Downsides to working at a tech giant
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Re: Downsides to working at a tech giant
#32There's a LOT of survivorship bias in this article. I personally worked in small companies (30 - 200 employees total) and startups (4 employees, including myself) before ending up at a big tech company, and I would have preferred to do this journey in the opposite direction - that is, work a few years at a BigCorp, and then work for a startup. Getting to see what works and what doesn't work in the context of a bigcor…
I worked for Microsoft this year. Had an amazing experience, learned a ton, built a great network, had benefits and was well compensated. I did this all while taking almost 0 risk. The idea that working for a tech giant is "maintaining the status quo," but working for a startup is "making something new," is perhaps not accurate.
Working at a startup can be great. Working at a tech giant can be great. Just don't make your decision based on one guy who turned down a personal offer from Peter Thiel (and was later employee #10).
Re: Downsides to working at a tech giant
#33Re: Downsides to working at a tech giant
#34If you compare this to Apple stock it would be like if you had the cash in your bank account and your stock broker called you up and said "You should buy 1000 shares of Apple stock. In fact, I'll just give you 1000 shares of Apple stock, there's no risk to you". And you said no.
Or if someone said "I'll give you this lottery ticket, do you want it?" And you said no.
Now obviously, not many people find themselves in such a situation. But if you're a developer this situation isn't _that_ uncommon. i.e. you have a friend from school, or a someone you used to work with that is starting something new and asks you to join. This percentage goes up the "better" school you go to and the companies you join. i.e. I'm sure a large percentage of MIT/Stanford CompSci grads and early Goog/FB engineers know someone within 1 to 2 degrees of separation that have started fairly large companies.
Probably the most sure way to wealth (50M+) in modern times right now is to go to a good CompSci school, join a larger hot startup 200-500 people, spend a few years solving hard problems, getting a good salary and building a strong network. Then when one of your network starts a company joining that company as employee For 1-5M the surest way is to join a 1000+ employee tech company as an engineer.
Re: Downsides to working at a tech giant
#35Not buying Apple Stock in 1999 cost me $200M too. Not to mention what not picking those winning lottery numbers cost me...
It might not be too late for the lottery numbers! I can't find it now, but I remember reading about a guy who was arrested in China for buying winning lottery numbers after they'd already been announced. The semi-surprising thing, to me, was that he did this more than once. Seems like a clear example of when you should take the win, and then leave in dignified haste.
Re: Downsides to working at a tech giant
#36This is such a weird post. Big fan of Garry, but I don't agree with most of this. 1. Just because it turned out that you would have made $200mm doesn't make it a mistake. If anything, that outsized return proves just how rare this kind of outcome is. If you look at the YC startups graduating every year, maybe 1 will ever generate $20mm for an early employee, let alone $200mm. Joining a new startup for that kind of ou…
Re: Downsides to working at a tech giant
#37Re: Downsides to working at a tech giant
#38Re: Downsides to working at a tech giant
#39Earlier quoted context omitted.
It might not be too late for the lottery numbers! I can't find it now, but I remember reading about a guy who was arrested in China for buying winning lottery numbers after they'd already been announced. The semi-surprising thing, to me, was that he did this more than once. Seems like a clear example of when you should take the win, and then leave in dignified haste.
Most criminals get caught because they can’t stop getting bigger. Same with most diseases