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Working at a startup is overrated, both financially and emotionally

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Re: Working at a startup is overrated, both financially and emotionally

#41

Post by villasv »

jFriedensreich wrote: post #8

On the other hand i think working corporate jobs is also still way overrated (even if it is maybe already rated low). Whenever I think this will be different i want to shoot myself after 1 or 2 months latest, working for a startup just is the lesser evil.

_Having_ to work (instead of the privilege of working if you want on whatever you want) is the root of evils.

Startup life isn’t working on what I want, it’s agile firefight every sprint. Corporate life wasn’t working when I wanted, it was plowing through the day unproductive and unmotivated.

Re: Working at a startup is overrated, both financially and emotionally

#42

Post by lotsofpulp »

ghaff wrote: post #29
amelius wrote: post #10

Earlier quoted context omitted.

This is the promise of UBI. Everyone can work on their hobby.

Enjoy working on your hobby on the government's $1,000/month because that's what any remotely plausible basic income is going to be like.

UBI is not about working on any hobby you want. It’s about redistributing wealth so that people can negotiate for more of the pie since the current system relies on using the cumulative wealth of one’s ancestors to determine their bargaining power.

Re: Working at a startup is overrated, both financially and emotionally

#43

Post by swader999 »

rubyn00bie wrote: post #13
swader999 wrote: post #7

Earlier quoted context omitted.

I remember my CEO laughing at me buying my options when they vested. "Well Swader, you'll be able to wipe your as with those at least". Was a great guy, great company and a great bunch of people to work with. But facts are facts. We were successful but in a very competitive field so nothing was guaranteed.

I have always said I wish I had gotten toilet paper instead of options. Because at least I can wipe my ass with toilet paper, and at the start of the pandemic I’d have actually gotten rich. Next time I’m offered options I’m going to request TP instead and see how they take it haha.

Hmmm... There might be an opportunity in combining these into one product.

Re: Working at a startup is overrated, both financially and emotionally

#44

Post by hprotagonist »

jmartrican wrote: post #5
hprotagonist wrote: post #3

My expectation is that the total compensation i receive from any employer is limited to salary per paycheck, health benefits, maybe retirement matching, and that is it, startup or no.

And RSUs. I love me some RSUs.

can’t say i’ve ever had the pleasure.

Re: Working at a startup is overrated, both financially and emotionally

#47

Post by eecc »

hn_throwaway_99 wrote: post #36

I think this is a really good article, but I think that one of the things it misses is that a huge reason the math works out so badly for startup employees is because founders and VCs take the lion's share of the gains. I mean, in my experience at startups, founders typically own around 40% of the equity. The option pool for all other employees is around 10-20%. Now, I certainly believe startup founders deserve far m…

That’s what Wiener suggests in Uncanny Valley, when she describes the windfall when Microsoft bought the GitHub shares she had the option to buy during her time there.

It wasn’t life-defining, plus she noticed that many other employees didn’t have enough savings to actually exercise.

Re: Working at a startup is overrated, both financially and emotionally

#48

Post by [deleted] »

hn_throwaway_99 wrote: post #36

I think this is a really good article, but I think that one of the things it misses is that a huge reason the math works out so badly for startup employees is because founders and VCs take the lion's share of the gains. I mean, in my experience at startups, founders typically own around 40% of the equity. The option pool for all other employees is around 10-20%. Now, I certainly believe startup founders deserve far m…

[deleted]

Re: Working at a startup is overrated, both financially and emotionally

#49

Post by sethammons »

sbarre wrote: post #2

It's important for anyone joining a startup to understand that the odds of success are overwhelmingly against you. For every successful startup we see on here and elsewhere, there are thousands that fail in obscurity, sometimes leaving people in ruins. Treat options/shares as a literal lottery. Assume your odds of winning are zero when making life choices. Also unless you're a very very early employee, those options/…

Yes, even when you win that lotto, it is not as much as you may imagine. I rode the SendGrid/Twilio rocket; engineer 12 at SendGrid. IPO and acquisition later, I’m still a decade out on even thinking of being able to retire or be financially independent. Don’t get me wrong, things are good. But early equity in a multi billion dollar company and I’m still having to work :)
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