It’s at latest round. I’ve known peoole that rush to join before a new round of funding changes the valuation.
Unless it’s a down round, then they are screwed.
Was Uber’s Softbank round a down round? Or did they do an up round right afterward?
If the company is employee friendly, it may reprice the existing stock options to a lower exercise price prior to a down round, but those who were granted RSUs prior to the down round are screwed due to lower quantity granted in a higher valuation earlier.
That was crazy complex. They “official” value was the same as prior for new shares. Some insiders were allowed to sell at a lower valuation, so that was a down round but not really since they weren’t new shares.
I know people who were at Fitbit. They were still doing options close to IPO. They were under water before their 1 year vesting. At IPO, they were worth quite a bit on paper.
Such as Harriet?
Hope they sold.
Obviously you don’t pay attention in class
No. At one point, I knew 5 people that working there. The Caltrain commute to SF kept me from seriously considering it.
I have hearing problems.
Moray Taylor, Programming since lines began with a number.
I’m stealing this phrase from someone else, can’t remember who said it… (Sorry)
Working on the next gen Nvidia graphics card is just too damn hard. Or kernel development for Apple, too damn hard. Grand Theft Auto 12 for Rockstar, nope, too hard.
A bit of PHP for Facebook? Yeah, that’s OK.
Impressive, but achievable.
Sam Dogen, Founder at Financial Samurai (2009-present)
A Silicon Valley software engineer is the new blue collar worker of the Bay Area. Yes, they make salaries of $150,000 - $250,000 + RSUs or Stock Options, but when the median price home in SF is $1.6M and the median price home in Palo Alto is $2.5M, you’re not exactly living it up.
You’ve made it if you are an early employee whose company goes public or gets acquired for a huge premium. If not, you’re a comfortable middle class person grinding away in one of the biggest grinders in the country.
Those who have really made it are the founders who have successful exits.
For every 2 years, if no promotion, hop to another company. After 2-3 hops, either startup or join startup as VP Ride the bloody wave.
Grinder would be the correct word. The pressure to deliver at any major tech company is quite high. I like my job but I’ve been thinking more and more about moving elsewhere and slowing down the pace. The traffic, costs are all starting to gnaw at me slowly. Starting to wonder who cares if I or my boss or boss’s boss suddenly disappears. No one will I guess.
More than racism and sexism, I think age discrimination is the most under reported and most serious discrimination in SV. IC’s over age 40 are mostly dead meat.
Come on, let’s not make general statements like that. My Big Bro is still at the top of the food chain at his firm while all the young bucks want a piece… He will retire on his terms, not the company’s…
Any general trend has lots of exceptions.
You see all tech shops say they want more racial and gender diversity. I have seen NO ONE say they want more old people. Age discrimination is about the only discrimination nobody cares about or even silently advocates.
It says “annual basis”
Not exactly. Those who “made it” were those who bought their houses 20 years ago.
Or 10 years ago. Or 5 years ago.