161–170 of 374 posts
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Brex has been around for a long time, so employees will have been issued stock options with vastly different exercise prices. Early employees' options will have value, but more recent options are likely underwater.
I strongly suspect they shifted to RSUs at those valuations.
They refused my business because I didn't have SV VC money Chase got it instead, but they are losing it next month because of their shenanigans and greed Wish crypto hadn't been co-opted by the same people and worse
Crypto is just extension of the banking system and VC powered money extraction schemes. Bitcoin is the only notably different thing in my opinion.
Of course, the VCs take a cut, but overall the redistribution seems net positive to me.
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> Chase got it instead, but they are losing it next month because of their shenanigans and greed Well, on a related note: https://oag.ca.gov/news/press-releases/attorney-general-bont... "Capital One marketed its 360 Savings accounts as “high interest” accounts with “one of the nation’s best savings rates”...However, while interest rates rose nationwide...Capital One kept the interest rates for its 360 Savings account…
America's banks enjoy pulling a bait and switch on HYSAs: They will create new account types with better rates, while they let their old ones become uncompetitive. Citi has pulled this too. Unless you really think you might need the money immediately, chances are that keeping your money in a brokerage account and using a money market fund (say, VMFXX or something like that) will lead to less headaches with rate manip…
It's not a bank account so you will still need a backup checking account if you need Zelle or similar, and it has no way to deposit cash - but the CMA has direct deposit, ACH transfer, debit card access, and check writing, so 95% of the time it does all you need.
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(Frame of reference: US only) That's a shame, given 18-25 is just the age where a credit card skimmer or online card fraud causing a big fraudulent withdrawal from your checking account, and weeks of waiting to get it back, could be devastating. This has happened to people in my family (likely from gas stations) but we only use credit cards except to pull cash from ATMs, so we only suffer a temporary dip in our avail…
I wish I could scream this from the rooftops. People should keep their debit cards locked/frozen, and only use them to get money from ATMs when needed. All other spending should go onto credit cards, for numerous reasons that have been bought up throughout this thread.
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America's banks enjoy pulling a bait and switch on HYSAs: They will create new account types with better rates, while they let their old ones become uncompetitive. Citi has pulled this too. Unless you really think you might need the money immediately, chances are that keeping your money in a brokerage account and using a money market fund (say, VMFXX or something like that) will lead to less headaches with rate manip…
I highly recommend the Fidelity CMA (Cash Management Account), it behaves mostly like a checking account but it autosweeps into SPAXX so you get the best of both worlds - your money is instantly accessible but you get the earnings of a money market account. I no longer bother with a HYSA. It's not a bank account so you will still need a backup checking account if you need Zelle or similar, and it has no way to deposi…
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For many?
many/most employees
Not saying they did well, but depending on the 409a valuations, they still might have made money.
Edit: friends, if you’re going to downvote please leave a comment as to why. It’s okay to disagree! There’s a lot of misleading FUD in these discussions about equity. It’s helpful for everyone to hear those sides.
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I strongly suspect they shifted to RSUs at those valuations.
It seems unlikely that regular employees would be issued RSUs. Tax is due at vest, and you can't liquidate to fund the tax bill.
Earlier quoted context omitted.
I strongly suspect they shifted to RSUs at those valuations.
It seems unlikely that regular employees would be issued RSUs. Tax is due at vest, and you can't liquidate to fund the tax bill.
They refused my business because I didn't have SV VC money Chase got it instead, but they are losing it next month because of their shenanigans and greed Wish crypto hadn't been co-opted by the same people and worse
I'd recommend US Bank.
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(Frame of reference: US only) That's a shame, given 18-25 is just the age where a credit card skimmer or online card fraud causing a big fraudulent withdrawal from your checking account, and weeks of waiting to get it back, could be devastating. This has happened to people in my family (likely from gas stations) but we only use credit cards except to pull cash from ATMs, so we only suffer a temporary dip in our avail…
That's way less common in Europe. Most places are chip and pin or NFC and that limits skimming quite a lot.
Even better, our small town (pop. 100) gas station upgraded their pumps a while back, and they have NFC! Finally my normal fill-up location is skimmer-resistant. Or is it skimmer-proof?