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The Career Path I Didn’t Consider, But Should Have

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Re: The Career Path I Didn’t Consider, But Should Have

#41

Post by fidotron »

staunch wrote: post #18

There are millions of people in the US alone that would jump at the chance of taking a good startup job or creating a startup themselves. They don't need convincing. But startups don't want to hire them and investors don't want to fund them. Because they're poor, under-educated, and different. They also make up the majority of the smart and talented people. It would require actual effort and understanding to work wit…

Being smart and talented doesn't make a successful business, even if you add hard working too. The actual valuable part of the business is the ability to get others to give you money for what you do. It doesn't matter how that is achieved, but your worth is directly proportional to how successful at that you are.

Re: The Career Path I Didn’t Consider, But Should Have

#42

Post by bitL »

staunch wrote: post #18

There are millions of people in the US alone that would jump at the chance of taking a good startup job or creating a startup themselves. They don't need convincing. But startups don't want to hire them and investors don't want to fund them. Because they're poor, under-educated, and different. They also make up the majority of the smart and talented people. It would require actual effort and understanding to work wit…

I am searching for a business partner for eCommerce that would do the whole business part while I will be plugging in and extending automated sales technology I created and use in my other companies, with 50/50 equity split and the initial operating capital provided by me if necessary. However, almost nobody wants to start from scratch, growing the company as their baby (despite having the benefit of immediate use of my mature technology, spending at most 1 hour a day running the business anywhere in the US and non-interfering from my side on their business style except for advices on proven business model I operate and avoiding legal problems); they expect earning $100k within the first 3 months or so with no work at all. Sometimes I feel like there is an insurmountable obstacle between their dreams and effort they put into the work to get where they want to be...

Re: The Career Path I Didn’t Consider, But Should Have

#44

Post by totalrobe »

bitL wrote: post #42
staunch wrote: post #18

There are millions of people in the US alone that would jump at the chance of taking a good startup job or creating a startup themselves. They don't need convincing. But startups don't want to hire them and investors don't want to fund them. Because they're poor, under-educated, and different. They also make up the majority of the smart and talented people. It would require actual effort and understanding to work wit…

I am searching for a business partner for eCommerce that would do the whole business part while I will be plugging in and extending automated sales technology I created and use in my other companies, with 50/50 equity split and the initial operating capital provided by me if necessary. However, almost nobody wants to start from scratch, growing the company as their baby (despite having the benefit of immediate use of…

Product manager open for opportunities here. totalrobe@gmail.com

Re: The Career Path I Didn’t Consider, But Should Have

#45

Post by fredfoobar42 »

So she managed to graduate without student loans? All her obligations were rent? Good for her. Most 20-somethings coming out of college have a shitload of student loan debt. Myself included. Equity sounds nice, but it doesn't stop Sallie Mae from calling and demanding her money back, plus interest.

Re: The Career Path I Didn’t Consider, But Should Have

#46

Post by fredfoobar42 »

lkrubner wrote: post #10

She says: "There are a lot more startups today, and you can in effect become an early investor in one by going to work for it." It's important to remember that she means this for one very particular industry, and she is talking about a very particular kind of startup. Overall, there has been a steady decline in the number of startups during the last 30 years: https://www.fedinprint.org/items/fednsr/707.html "The firs…

And that's assuming your founder is scrupulous and actually gives you the promised equity, and it vests.

No, I'm not bitter, why do you ask?

Re: The Career Path I Didn’t Consider, But Should Have

#47

Post by drewvolpe »

cj wrote: post #29

> There are a few warnings that go along with working for equity. Another warning: Equity can be expensive. It can cost a lot of money to keep that equity when you leave the startup. I was at a startup for 2 years and had 2% vested equity. I left the company 2 months ago. If I want to keep my equity, I have to exercise my stock options and pay ~$30k within the next month. If I don't, the equity disappears forever.

There's a third option: you can sell some or all of your equity to an investor. Companies don't like to talk about them, but I've seen more and more of these transactions happening, and they can be great for everyone involved: the employee gets a payday and eliminates her risk, and the investor gets access to a company she would not have otherwise been able to.

Re: The Career Path I Didn’t Consider, But Should Have

#48

Post by frostmatthew »

birken wrote: post #31
courtson5 wrote: post #30

The author sells equity as a main motivator in joining a startup. But if you believe in equity, you are far better off being a founder than an early employee Being the first employee (or an early employee) of a startup seems to be the worst possible choice. * none of the stability of a larger company * a salary which is likely less than market * 10 to 100 times less equity than a founder (So, in an exit, you'll make…

You are speaking in some really large generalities. Being an early employee of a startup isn't indentured servitude. If you are offered little equity as compared to the founders, don't join. If the founders won't share the financials of the company with you, don't join. If they wont pay you the salary you want, don't join. If they wont offer you the opportunity to grow into the role you want, don't join. And you can'…

> If you are offered little equity as compared to the founders, don't join. If the founders won't share the financials of the company with you, don't join. If they wont pay you the salary you want, don't join. If they wont offer you the opportunity to grow into the role you want, don't join.

Lots of people don't join startups because of these reasons - which is exactly why she wrote this piece, in an effort to convince more people to consider startups.

Re: The Career Path I Didn’t Consider, But Should Have

#50

Post by eropple »

k-mcgrady wrote: post #36
courtson5 wrote: post #30

The author sells equity as a main motivator in joining a startup. But if you believe in equity, you are far better off being a founder than an early employee Being the first employee (or an early employee) of a startup seems to be the worst possible choice. * none of the stability of a larger company * a salary which is likely less than market * 10 to 100 times less equity than a founder (So, in an exit, you'll make…

>> "But if you believe in equity, you are far better off being a founder than an early employee" But not everyone is cut out to be a found or has a good idea they can execute on. For those people being an early employee is the best they can do. It's also incredibly more stressful being a founder and a lot of people don't want that. They are happy to take a lower than market salary in exchange for lottery ticket (equi…

Employee #1 is taking on 80% of the risk of a founder for usually a sliver of the upside. I know a lot of single-digit startup employees and I really think you're doing them a disservice by characterizing that role as really at all less stressful than being a founder.

You see founders parachute straight into consulting or speaking after flaming out of their tech startup. Their team needs to go get jobs.

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