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>work in tech startup
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You are currently reading a thread in /biz/ - Business & Finance

Thread replies: 16
Thread images: 2
>work in tech startup
>HEY GOY WE'LL GIVE YOU ALL THIS FREE SHIT
>DON'T EVERY WORRY ABOUT ANYTHING, WE'RE YOUR BUDDIES, NOT LIKE THOSE NORMIE CORPORATIONS
>work absolutely insane hours for shit pay
>targets become increasingly ridiculous because of the obsession with scaling, puts everyone under pressure, completely ruins the formerly fun working environment as more people start fighting
>subtle culture of fear due to people being suddenly fired and never mentioned again by management

New grads considering tech: commit suicide while you still can
>>
>accept options in lieu of huge salary
>company succeeds
>cash in shares and retire at 40
>>
>>1059916
Only happens if you get in really really early, like first 20 or so employees.

And depends entirely on the company not tanking, which isn't exactly unusual in startup-land
>>
Worked for me.
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>>1059916
Topkek at peopel who believe this meme. This only works if the first 20 peopel in company worked since day 1 to the day it got a massive IPO. The days where you can retire at 40 from tech companies are long gone, friendo.
>>
Maybe this is true today in general, but opportunities still exist. I've been out for almost 10 years now since my goose laid the golden egg. An IPO is not required to make tons of money. All that is required is that your company be bought out by a bigger fish. This still happens quite often, friendo.
>>
>>1059952
Not entirely true. It is more likely that a successful startup gets bought out then have an IPO. In fact, this is the goal of 90% of startups. Build a company, grow it, cash in after 5 years.
>>
>>1059962
99% of startups fail within a year. If you get lucky that a bigger company buys you out, then that's cool but the chances of that happening are lower than winning the lottery.
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>>1059965
[citation needed]
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>>1059918

I was employee # 7 at my last job. It was my dream job for the first 22 months. Then the investors got pissy and fired all the executives on Monday morning. Friday morning all upper management was fired.

I survived long enough to train my replacement (which they were open about the fact he was replacing me)

It went to hell in less than 3 months. The only nice thing I can say is they gave me 6 months severance and signed documents saying they would not fight my unemployment claim

Start ups can be awesome, but they go south very fast and without warning
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>>1059966
Startsups are like small businesses, most fail after a year. Some succeed but eventually they end up like this>>1059968. The very few who make it to offering or IPO are rare.
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>>1059968
My place was a startup (just about) when I joined, but it's got a bit more corporate. I was employee #90 or something, so not tiny, but still had the startup vibe.

Now it's showing early signs of going down the shitter- it's not being addressed, but certain people in certain roles (e.g. like mine) would notice it. I'd imagine the salespeople think shit is going swimmingly though.

CEO is also a full-on loony toon who is obsessed with scale- that was fine early on, but scale will be our undoing before long.

No investors to fuck us over, thankfully, as we're funded by our own revenue (for now). More likely in my opinion that our current business model will go to shit, and we'll make a sudden, sharp pivot to a more software-specific focus, with all the dead weight being shed overnight (so as an analyst, if I want to stay then I need to make damn fucking sure I'm on the Engineering side of that gap, not Sales)

I'll probably jump ship over the next few months though, I just need to sharpen my skillset a bit more, as I'm lacking in experience.
>>
>>1059916
> company fails
> sells technical team to larger company
> shares convert
believe the dream
>>
>>1059975
>offering or IPO
>literally the same thing
We are talking about buyouts here, not IPOs. I'd you are descriminate about which startup you are involved with and don't just join anyone you come across, you are more likely to be involved in one that is successful. I know plenty of people that have entered at the ground floor of a startup and cashed out after a few years when they are bought out. My own brother made over $500k (not enough to retire, but a start) after 4 years from a startup that he went in on with a few other partners at Deloitte. Your original premise that it is a meme is untrue.
>>
>>1059906
>doesn't want perks
>doesn't want to work
Perks are how they compete with hiring people. I don't know where you are reading, but the pay is not shit. You sound like a jealous sperglord who didn't choose the right major.
>>
>>1059989
This. Or, he just doesn't have the balls to take a chance on a good idea. Either way, the dude is doomed to be a wage slave and is obviously bitter about this fact.
Thread replies: 16
Thread images: 2
Thread DB ID: 464322



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