Ask HN: Are you now less interested in startup jobs?

1 pointscausehealth1015y ago5 comments

During rough or uncertain economic times, risk tolerance declines in favor of job security.

How have the last few months affected your interest in joining a startup?

Thanks!

5 comments

None.

Eleven startups. Net value of options: zero.

Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got decent salary, but not FAANG level.

VCs may be able to write off 1/3 of their investments, I can't. Stop conning employees into accepting lower salaries in return for stock options.

davismwfl5y ago

I'm curious, can you define what you viewed as a decent salary, either as a range or percentage of market?

dgvkx19z7f80gqq5y ago

For my region, $150-175k, engineering. Last startup I worked at (>1 year ago) paid $120 + roughly 30k in options (so, divided $30000 by strike price resulting in N options). Company exited for 5x venture funding. Options were effectively worthless as one of the venture rounds had a 2x participating preference. Acquiring company offered same salary, no equity. I would have been better off quitting the startup and applying for a new role at the acquiring company as they were paying other engineers comparable to me $165.

The founders did ok, the investors did great, the typical employee (I was not first but was in the first 100) pretty much got screwed.

causehealth101OP5y ago

You've worked at 11 startups?! How long have you been in the industry?

dgvkx19z7f80gqq5y ago

~20 years, several of those startups barely managed to survive a year. I started at a more traditional tech company and got recruited to a startup after a couple of years.

j / k navigate · click thread line to collapse

5 comments

dgvkx19z7f80gqq5y ago

None.

Eleven startups. Net value of options: zero.

Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got decent salary, but not FAANG level.

VCs may be able to write off 1/3 of their investments, I can't. Stop conning employees into accepting lower salaries in return for stock options.

davismwfl5y ago

I'm curious, can you define what you viewed as a decent salary, either as a range or percentage of market?

dgvkx19z7f80gqq5y ago

The founders did ok, the investors did great, the typical employee (I was not first but was in the first 100) pretty much got screwed.

causehealth101OP5y ago

You've worked at 11 startups?! How long have you been in the industry?

dgvkx19z7f80gqq5y ago

~20 years, several of those startups barely managed to survive a year. I started at a more traditional tech company and got recruited to a startup after a couple of years.

j / k navigate · click thread line to collapse