211–220 of 374 posts
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options can only last 7 years, but brex was founded in 2017.
Who says options can only last 7 years?
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options can only last 7 years, but brex was founded in 2017.
When the options expire do they give new equivalent ones to the employees that hung on? Otherwise what’s the point?
Feels like they were first in the space but then somehow Ramp ran away from dev with a higher dev pace. Fascinating to see.
Personally I'm okay with being outcompeted if their's a billion dollar payout at the end.
If you can't provide a billion dollars worth of value, extract a billion dollars worth of grift!
I hear A16Z is hiring.
Brex literally came to us one day in 2022, and notified us that "We have 6 weeks to move everything off their service" they told us boldly they are refocusing on the enterprise market and we were only a "SMB". The guy who literally told us this framed it as a good thing for us like it was some sort of weird break up. At the time we had signed a large enterprise agreement not long before that, and we even were adverti…
That's weird. I remember the great SMB cleavering, where they spiked anyone that was, say, a small brick & mortar, preferring to focus on firms that were more pure tech and higher average balances. I've banked with Brex for, I don't know, 5 or 6 years now, and somehow dodged that, but it was concerning at the time since migrating operating accounts is an enormous pain in my ass. This was made a bit more annoying when…
Or having to double login to Brex to first do a transfer from treasury and then wait hours to then login and schedule the ACH.
Anyways will never use Brex again after all that annoyance.
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That's way less common in Europe. Most places are chip and pin or NFC and that limits skimming quite a lot.
Thankfully the US is very slowly catching up. We actually have NFC at most payment terminals already. 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?
Put a reader with a shield on the pad and a new pad on top and a small terminal in somewhere out of sight. You won't know the difference. Requires infrastructure though so it is a bit more complicated and a lot more noticeable. Likely used the non-pin entry limit which is always reset after you payed a large amount and had to enter your pin. Not like the strip readers of olden days.
Anecdote: We had a "chip charge" system where you put money in your card via a ATM like device and those sometimes had strange "extensions" in front of it which read your chip while you charged it and immediately took the money. People often don't know what too look for when it comes to skimming devices and with tech it may look like a strange but genuine device.
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many/most employees
Employees get options at common stock prices. The valuations you see, like $12bn, are for preferred stock. So no employees got stock priced at $12bn, but all of them get paid at a $5.15bn valuation. 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 mislea…
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When the options expire do they give new equivalent ones to the employees that hung on? Otherwise what’s the point?
You can exercise the options before that time is up, paying the strike price to convert them to shares
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Personally I'm okay with being outcompeted if their's a billion dollar payout at the end.
Everything that's wrong with venture capitalism condensed into a single fifteen word sentence. Bravo. If you can't provide a billion dollars worth of value, extract a billion dollars worth of grift! I hear A16Z is hiring.