171–180 of 374 posts
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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.
The usual move here is "double trigger" RSUs that don't vest until a liquidity event, thus no taxes due until said liquidity event.
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With credit, it's the merchant who loses out. They get bullied by the credit card provider to eat losses. Relatedly, the credit card system is truly a tragedy of the commons situation. It's a ~2% drag on the economy for what? For some silly points with constrained value and an excuse to not build better financial infrastructure. The frustrating thing is that, given the current equilibrium, you're a sucker for not usi…
What 2% drag? Aren't you using credit card with 2% bonus? Just see it as 2% reduction in prices.
High tier cards are more expensive to accept, unless your merchant rate is a high enough flat rate that it covers the average and then some.
Capitalone is going to need something to make up for switching all their debit cards from MasterCard to Discover
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> 50% discount There are liquidity preferences, nobody took a haircut, they may not made a lot of money as long as the sale price($5.1B) is greater than funds raised($1.2B) everyone made some money not as much as they thought, but nevertheless some. The reason may be different than you think, Capital One is known for its aggressive marketing campaigns and physical mail spam, it is more likely they didn't want to upse…
Liquidation preferences may have multiples. A 3x liquidation preference would have erased most gains for anyone who didn’t raise in the last round, employees and founders included.
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I see you getting downvotes, but can you elaborate a little on what happened? What kind of business did you mean? If you don't want to share more here, you can email me.
In 2022, Brex shifted away from SMB to refocus their offering. They cut "tens of thousands" of SMB customers who didn't fit their new ICP. They announced this in June 2022 and gave all of those customers 2mo to find a new provider and move their funds. The new qualifications to be a Brex customer at that time were: > Received an equity investment of any amount (accelerator, angel, VC or web3 token); > More than $1 mi…
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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.
I've never bothered to understand the details since none of the private companies I've worked for have had the non-cash portion of their comp be worth anything but $0 before.
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May I ask why you eschew the basically free money that comes from credit card rewards as a responsible credit card user?
Is it really free money? Actual cash ? I've always seen rewards programs advertised in terms of discounts on specific products or services: consumer electronics, cruise vacations, furniture, gift cards, and other things I rarely spend money on. I expect it to be an overstock clearinghouse, something like the old Columbia House record club, where you would page through a catalog of random stuff looking for anything yo…
I know I could probably min-max this into more by juggling different cards for things like Amazon and Costco but I'm lazy and don't want to think.
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
> 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…
It struck me in that moment that these banks offer high convenience to people who never really have ever had true savings. The interest rate is largely meaningless when your account is chronically in the $250 to $1250 range. Things like app integration, and easy user friendly deposits and withdrawals are much more important.
I think if you are someone who financially made your way to a place where interest payments are meaningful in size, you probably left those "convenience" banks a long time ago. The thought has made me more mindful about my bank rants now.
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In 2022, Brex shifted away from SMB to refocus their offering. They cut "tens of thousands" of SMB customers who didn't fit their new ICP. They announced this in June 2022 and gave all of those customers 2mo to find a new provider and move their funds. The new qualifications to be a Brex customer at that time were: > Received an equity investment of any amount (accelerator, angel, VC or web3 token); > More than $1 mi…
SMB? ICP?