81–90 of 238 posts
Over 5 years ago I turned down an offer to work at LivingSocial. Last year, I would've been worth $10 million on paper. All of that fake wealth evaporated today. What a mess.
Wow, LivingSocial has now been funded to the tune of $918 million, and really, what is there to show for it? http://www.crunchbase.com/company/livingsocial
Here are a few tips for others startup employees: 1. Take the least amount of stock possible - your startup is statistically unlikely to succeed. It'd be better to bump your salary up $10-20K than to get the stock. 2. Unless it's liquid - it's worthless. 3. Valuations pre-cashflow - are useless. Anybody can value anything at insane levels using just one dollar. I value HN at $1 billion by offering to buy only 1 share…
[1] http://stason.org/articles/money/investing/everything_you_ev...
Here are a few tips for others startup employees: 1. Take the least amount of stock possible - your startup is statistically unlikely to succeed. It'd be better to bump your salary up $10-20K than to get the stock. 2. Unless it's liquid - it's worthless. 3. Valuations pre-cashflow - are useless. Anybody can value anything at insane levels using just one dollar. I value HN at $1 billion by offering to buy only 1 share…
You sound like the worst employee ever.
(Yes, founders take more risk--though "fuck, out of a job" is not a risk to be minimized. Founders do also get much more exposure and have a better chance of finding somewhere to land immediately if things go south, as well as foreknowledge of the southerly state of things and a head start on finding that escape route.)
Here are a few tips for others startup employees: 1. Take the least amount of stock possible - your startup is statistically unlikely to succeed. It'd be better to bump your salary up $10-20K than to get the stock. 2. Unless it's liquid - it's worthless. 3. Valuations pre-cashflow - are useless. Anybody can value anything at insane levels using just one dollar. I value HN at $1 billion by offering to buy only 1 share…
You sound like the worst employee ever.
You never would have thought by their office space that anything was wrong... http://www.businessinsider.com/living-social-office-tour-201...
The "Hungry Academy" mention is easy to miss, but that's actually an entire floor unto itself.
Here are a few tips for others startup employees: 1. Take the least amount of stock possible - your startup is statistically unlikely to succeed. It'd be better to bump your salary up $10-20K than to get the stock. 2. Unless it's liquid - it's worthless. 3. Valuations pre-cashflow - are useless. Anybody can value anything at insane levels using just one dollar. I value HN at $1 billion by offering to buy only 1 share…
You sound like the worst employee ever.
$110 million seems like a drop in the bucket if they really are bleeding money and have 4000+ employees, many of whom are probably very upset at the evaporation of their stock options.
Here are a few tips for others startup employees: 1. Take the least amount of stock possible - your startup is statistically unlikely to succeed. It'd be better to bump your salary up $10-20K than to get the stock. 2. Unless it's liquid - it's worthless. 3. Valuations pre-cashflow - are useless. Anybody can value anything at insane levels using just one dollar. I value HN at $1 billion by offering to buy only 1 share…
You sound like the worst employee ever.
What companies really need are wide-eyed, earnest, new college grads who have no idea what goes on in the real world, and how much they are truly being screwed by their current startup.
Those guys rock! They work 100+ hour weeks, they don't have families, or commitments and are willing to do it all for mere peanuts and empty promises of golden rainbows!
Sadly - a few years of this turns them into realistic employees - and you need a whole new batch to replace them.
As an independent restaurant owner, I can't say I didn't expect to see this one day. The model simply doesn't work, at least in our industry. The restaurant loses money on every single "daily deal" that is redeemed. With LivingSocial or (insert any other daily deal site here) taking half of the deal, the restaurant is simply left with 25% of the revenue generated. This does not even cover our food costs, let alone la…
Edit: later on someone pointed out the usefulness of discounts for repeated transactions. The question is for daily-deal discounts.