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ahh yes, the cut, the 'great' publication that brought you insightful pieces like this eye roll https://www.youtube.com/watch?v=fFxQkg_Ye60
SpaceX alums are branching out and shaping the startup economy
31–40 of 283 posts
Re: SpaceX alums are branching out and shaping the startup economy
#32I wish it was more like this at existing companies. Why everyone isn't leaving Adobe, Meta, and Google to found their own AI / generative media startups astounds me. If you work in our incredibly lucrative field, you may be able to afford a few quarters of leaning into risk. Startups are like a brush fire. Old incumbents have so much legacy code and cruft that nimble upstarts killing them is healthy . The "SpaceX dia…
My company immediately sues anyone who leave to join a competitor, and even more viciously attacks I would assume if someone were to actually start a competing business.
Nexxon?
Re: SpaceX alums are branching out and shaping the startup economy
#33Earlier quoted context omitted.
From people I've talked to, SpaceX pay isn't any better than "old-space" companies (even before you look at the hourly breakdown) and their equity isn't very liquid.
The equity is liquid enough.
I read it as the original cast moving on, but maybe I'm less bitter :-p
Re: SpaceX alums are branching out and shaping the startup economy
#34Earlier quoted context omitted.
OpenAI is roughly 375 people, I don't know how big Anthropic is but I assume similar. I think the person you're replying to is wondering why the other 25 million of us aren't doing the same.
The money at FAANG is really hard to beat on a risk adjusted basis (though that risk factor is increasing with the layoff spree). From a financial perspective it is much more probable to become a millionaire through a FAANG than a startup right now.
Right now is also a harder time to start a startup because of the interest rate hikes reducing available capital. It already impacted SVB's deposits (and caused the ensuing bank run)
Re: SpaceX alums are branching out and shaping the startup economy
#35Earlier quoted context omitted.
Some of those folks are locked in golden handcuffs, some are expats on green cards, and some simply enjoy a less complex life of that comes with being a well-paid employee working for a well-known company.
The green card let's you do what you want, no? The h1s and tns, etc are locked in
Just to add more details on TNs if anyone read this, the visa is locked to the sponsoring company but it's possible to hold multiple TNs at the same time. Took me a while to figure that out. It can raise an eyebrow when crossing the border as it isn't regular to have more than one visa.
Re: SpaceX alums are branching out and shaping the startup economy
#36What is up with that site giving me three seperate popups warning me that the site uses cookies
Disabling content blockers, I can see what you’re describing. Seems like satire.
Re: SpaceX alums are branching out and shaping the startup economy
#37Re: SpaceX alums are branching out and shaping the startup economy
#38[flagged]
SpaceX is private and Elon isn’t exactly known for paying a ton so no?
Actually yes. SpaceX doesn’t pay a ton in salary, but their equity options have been incredibly valuable, so overall compensation has been good. If they’ve been around for a while and have had time for their shares to vest, they’re probably millionaires.
SpaceX is worth a ton of money, and even tho SpaceX is private, they do regular private sales so employees can sell their shares. The early employees in particular have made a LOT of money. Gwynne Shotwell, the President of SpaceX, for instance, is one of the earliest employees and is worth over $600 million now, which is greater than the net worth of Elon when he started SpaceX (including adjusting for inflation). (And she deserves it, too. Absolute rockstar.)
SpaceX really does show that hard work in a startup can pay off handsomely.
Re: SpaceX alums are branching out and shaping the startup economy
#39Earlier quoted context omitted.
OpenAI is roughly 375 people, I don't know how big Anthropic is but I assume similar. I think the person you're replying to is wondering why the other 25 million of us aren't doing the same.
The money at FAANG is really hard to beat on a risk adjusted basis (though that risk factor is increasing with the layoff spree). From a financial perspective it is much more probable to become a millionaire through a FAANG than a startup right now.
That, and why would a FAANG employee have more "founder attitude" than, say, an IBM suit? They've been the career choice of the "my car is bigger than yours" salary-seekers for more years than they had ever been recognizably "startup". One of the "A" hasn't been anything remotely related to startup since long before they ousted Steve Jobs!
Re: SpaceX alums are branching out and shaping the startup economy
#40Earlier quoted context omitted.
OpenAI is roughly 375 people, I don't know how big Anthropic is but I assume similar. I think the person you're replying to is wondering why the other 25 million of us aren't doing the same.
The money at FAANG is really hard to beat on a risk adjusted basis (though that risk factor is increasing with the layoff spree). From a financial perspective it is much more probable to become a millionaire through a FAANG than a startup right now.
That is the lesson number one in YC Startup School.