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The day Uber goes public there will be a mass exodus of employees waiting for years to leave the company. I wonder if Uber will stay private permanently to prevent this?
Do you know anyone that works there? Is the engineering culture messed up or something?
As far as the culture goes, from what I understand it's very backstabby and culty. Basically, Travis set the culture, and it permeates the company.
Yet another reason why taking startup stock sucks. Oh? You managed to actually get stock in a startup that seems to be worth something? And you didn't get diluted to a pittance? And the board / founders didn't try to fire you or ask you to give stock back to the pool? Lucky you, you're one of the 1% of the 1%. Now stay there until the company sells or goes public. Wait -- they got bought? Congratulations, you just wo…
As if options had a value.
When the price started crashing, the big guys got out. The little guys remain locked inside. Something similar happened at Palantir. When a big little guy sued, things changed [1].
[1] https://www.bloomberg.com/news/articles/2017-03-18/at-peter-...
Disclaimer: I am not a lawyer. This is neither legal nor securities advice.
Is how many many Silicon Valley horror stories begin. In the dot.com days it was "How working for a startup bankrupted me, and ruined my relationships." All because some situation forced a person to make the bet of whether or not their illiquid asset (stock in a private company) would ever become liquid. And that when it did, selling it would be more valuable than what you paid for it.
Clearly not everyone is as out there as the person mentioned in the article is, although I knew many people who had anywhere from $5K - $50K at risk because they had exercised and were holding. I had stock losses from the dot com implosion that I wrote off for over 10 years (at $3,000 a year) and it would have gone on for the rest of my life if we hadn't had a bit of long term gains to offset it later.
Next up: evil companies in Silicon Valley invalidate employees' RSU when they leave the company.
[1] https://news.ycombinator.com/item?id=9254299 [2] https://news.ycombinator.com/item?id=9253497
The day Uber goes public there will be a mass exodus of employees waiting for years to leave the company. I wonder if Uber will stay private permanently to prevent this?
As the article mentioned, Dara has expressed that he would like to take the company public in a couple of years.
Not sure what his pay structure looks like, but assuming it includes equity, I would imagine it would be in his interest to go public
Earlier quoted context omitted.
There is a year lockout of Uber employees after an IPO. Source: ex Uber employee.
How's the eng culture?
Beyond the obvious HR issues that Susan Fowler exposed, it was a bad place to work for almost any engineer. I would stay far away if you get an offer there.
The result? A swell of employees who want to leave/move on but can't afford to buy their shares and leave. It's lead to a number of people just hanging around, even when their enthusiasm and passion is waining.
Not what options are designed for!