Startup Winter: Hacker News Lost Its Faith

Post by plagiarist » Tue, Jan 21, 2025, 1:54 PM UTC

fxtentacle wrote: post #44

KaiserPro wrote: post #17

I think the bigger issue is that most of the financial upsides of startups were illusory Unless you're a founder, you're unlikely to make any money, and predatory VC/backers using convertibles/senior debt to turn your equity into Zimbabwean dollars. Thats before any stats are calculated for lasting long enough to either IPO, make money or get bought out. As someone who did successfully exit, the stories of multiple-m…

"Sell for half a billion and get nothing (2021)" https://news.ycombinator.com/item?id=39598903

Post by chamomeal » Tue, Jan 21, 2025, 1:57 PM UTC

dcminter wrote: post #10

> What's changed? Largely, the make up of the audience in HN. I sincerely doubt that the hard core of people doing startups, thinking of doing a startup, or just very interested in the topic has gone away or changed attitude very much. But the profile of HN has grown. It's a miracle that it's still an interesting and curious group, but from comments I'd be astounded if there were not a far greater proportion of peopl…

Post by swiftcoder » Tue, Jan 21, 2025, 1:59 PM UTC

nejsjsjsbsb wrote: post #100

pjc50 wrote: post #86

Earlier quoted context omitted.

Here's a question: what's the list of startups fitting the criteria of - after 2008 Great Financial Crisis - actual startup, not spinoff from larger company - financially successful exit - early non-founder employees made a substantial amount of money?

Why the after 2008 foundatuon criteria. Someone who joined FB in 2010 could have got rich right? Same with Google, Amazon, most other unicorns that established before 2008.

Post by chamomeal » Tue, Jan 21, 2025, 2:04 PM UTC

whstl wrote: post #98

ludwigvan wrote: post #36

Most engineers figured out that the options/stocks of startups are worthless.

I certainly did. I have options/stocks from 3 different companies, all vested, but zero expectation of seeing any money out of it. One of them recently went belly up and had an exit for peanuts. I didn't go for big tech but I did pick a job on a YC startup that, while demanding, allowed me to purchase my own house and work on my own stuff in the evenings.

Post by taylodl » Tue, Jan 21, 2025, 2:09 PM UTC

ragnot wrote: post #150

itake wrote: post #107

Earlier quoted context omitted.

This tracks. I think the real value employees get is riding the rocketship in their career. Early engineers often have first dibs on higher level roles, like CTO or director over people that join late. Your initial grant might not be great, but being director at such a company is huge

You'll find that outside the startup, the director/vp/cto title doesn't translate. Larger companies will often write you off as being "not experienced" enough which is often code for "you don't look old enough for this position". Unlike engineering and the startup world, big companies want you to look the part not just know the part.