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Directly contradicts Garry Tan's post saying that all forty founding engineers got seven figure payouts from the Google acquisition: https://x.com/garrytan/status/1947072583092052406 Even if the OP considers the full headline number of $2.4b to be the value of the company, and taking his "1% of fair" number as truth, seven figure payouts would imply all 40 founding engineers had >4% equity which is nonsensical.
https://x.com/ahmaurya/status/1948491614160122308 Garry Tan posted "sounds like a tweet that cost $20M" which he later deleted. Smells like a strong bias against employees in favor of management and founders.
Could you expand what's going on there?
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> It's always worth offering to take equity as long as they agree in writing to not ever dilute your shares and vest them immediately. However, it's unlikely that any company will agree. Well, yes, because that’s insane.
I think it makes perfect sense. It's a guaranteed incentive for a potential employee to increase the value of the company and act in its best interest. Absent those guarantees, it's smoke, nothing, kaput: 1.5% equity or whatever % can become approximately 0% and there's nothing the employee can do about it. They could structure the agreement in other ways to incentivize the potential employee: if additional shares ar…
the whole point of equity compensation is that it replaces cash, as the startup rarely has sufficient liquidity in cash.
But equity is often used in ways the employee does not understand and get screwed over. It's also why there are accredited investor requirements for VC/startup investments - so that only those who can afford to pay for a lawyer and such can partake in these deals. Unfortunately for an employee, the loophole is that they don't get this regulatory scrutiny, and also don't have or earn enough to hire a lawyer (and oft times not even access to the cap tables - it's just a literal number of shares, without context).
No wonder employees get screwed while investors (of the accredited kind) don't.
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What kind of house had you been dreaming of? I live in SF, and even here $3M goes an awfully freaking long way.
anything within 45 minutes of your office in palo alto (where you are mandated to show up 5 days a week). this will get you a 1300sqft piece of shit built in 1964 with asbestos and lead paint and lead pipes and a cracked foundation (also some dipshit realtor had them paint all the original wood beams and paneling inside gloss white and replace the original wood and slate floors with grey vinyl) from some baby boomer…
It just doesn't stack up. This world is cooked. The steak used to be medium rare once upon a time, but now it's pure charcoal.
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What kind of house had you been dreaming of? I live in SF, and even here $3M goes an awfully freaking long way.
$3m cash will get you a house that you have to still pay $60k-$100k a year to stay in property tax and maintanence
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What kind of house had you been dreaming of? I live in SF, and even here $3M goes an awfully freaking long way.
I'm in Santa Barbara, CA. Good friend of mine just bought a shithole 3-2 1300sqft for $2.2m. $3M doesn't go very far considering 30 years ago it was retirement status almost anywhere.
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What kind of house had you been dreaming of? I live in SF, and even here $3M goes an awfully freaking long way.
$3M is this 2,240 sq ft home on a 5k sq ft lot in San Mateo, and as far as house amenities/quality, this is pretty unimpressive. https://www.zillow.com/homedetails/221-Woodbridge-Cir-San-Ma...
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Or you could spend half that in the heart of SF and have a nice place in a decent neighborhood: https://www.zillow.com/homedetails/1265-Union-St-San-Francis... It's not that it's cheap here, not by any measure, but it's not nearly so dire as y'all want to claim.
That is a tenancy in common 2 bedroom apartment not a house. Shared ownership of a 100+ year old building with "leased" parking 2 blocks away. Not exactly the home ownership dream.
Engineers: always negotiate for higher base salaries. In the vast majority of cases—especially during acquihires—your equity will be worth little or nothing. Founders and VCs still get paid; employees rarely do. Don't just accept promises. Ask for the 409A valuation, liquidation preferences, and pay bands. If a company won’t provide transparency, that’s your signal. Equity is a lottery ticket. Salary is money in the…