GetData | Full-Stack Developer (focusing on front-end) / Designer / UX Expert | Worldwide (100% Remote - Anywhere!) | Full Time | $100K
We're developing a new way to search for event tickets (concerts, sports, theater, etc). We've been in this industry for 15+ years and have the knowledge and domain expertise to be sure that we are building something that people want. We are fully self funded from other ventures in the ticketing industry. You would be the first non-founder full time employee, and would be responsible for building out the frontend of the site. You will be building things from scratch using the framework of your choice, and would be leading design decisions. You will have an exceptional amount of autonomy as well as a very flexible work schedule. You would be working directly with the founders, who will focus on building out the back end of the codebase (python/mysql).
To apply, send us an email at data (at) getdatacorp (dot) com
GreenCharts | Remote | Full Time | Full Stack or Front End - Python/Django/JavaScript
We're collaborating with top-tier brands in the legal cannabis industry to build a tool that allows them to get a better pulse on the market by giving them direct insight into things like product and brand distribution, availability, and pricing.
We've proved our concept and have top brands on board as paying customers.
Looking for a front end or full stack dev to join us as either a co-founder or first salaried FTE and really own+lead development.
GreenCharts | Remote | Full Time | Full Stack - Python/Django/JavaScript
We're collaborating with top-tier brands in the legal cannabis industry to build a tool that allows them to get a better pulse on the market by giving them direct insight into things like product and brand distribution, availability, and pricing.
We've proved our concept and have top brands on board as paying customers.
Looking for a front end or full stack dev to join us as either a co-founder or first salaried FTE and really own+lead development.
I'm not the author of this tool, but I submitted it to HN because I just stumbled upon it after unsuccessfully trying to transpose a complicated cURL from Chrome devtools into python requests for a good 20 min. This worked instantly. Props to the author - https://twitter.com/nickc_dev
I've been looking for something like this for a while but I never wanted to spend the time actually searching when I could just spend the time converting it manually. Thanks for submitting this.
The source is at the link below. Its not 1 percent of startups but rather "1 percent of startups that raised seed rounds in the US in 2008-2010". There were ~1000 of those startups, of which 10 became unicorns.
Can someone comment as to what kind of payday this IPO translates to for say the 30th engineer hired by Snap? (I realize that this is impossible to answer accurately, and that there is still a 4 month lockup)
Let's say you started in 2013 when Snap's valuation was $800M. You were granted $80K (0.01% of the company). This is likely a very low estimate given what I've heard about snap equity. Snap raised good rounds so dilution isn't much of a concern. Snap went up 35x in value. As of today your equity would be worth ~$2.8M.
That means, today, those grants are at least 100k - 350k shares at a $0.99 strike price (assuming no other splits). Or $2,300,000 to $8,050,000.
Unless I'm missing something?
Edit: Ah the numbers above are actually too low. If you look that email also lists the percentages. 10,000 shares at that time was 0.022% which at the current valuation is actually $5,280,000 less some likely dilution.
Interviewed with Snapchat about 3-4 years ago (sub-100 employees). Did not get an offer, but their interview process was pretty standard and professional. They were giving out 0.001% equity at the time. I'd say it would come out to 250k-500k, but it's very hard to extrapolate.
They were already a mega hit with like 10 employees so I doubt anyone that hasn't been there super early (like first 5 employees) will become a millionaire off this IPO.
In fact, Snap's extreme generosity to employees has already swelled the existing share count. In 2016, it awarded 105 million new restricted share units (RSUs). All of those units, plus around 80 million awarded in previous years, will vest with the IPO. Those grants will represent one in six of Snap's shares. At $16 a share–the estimated high end for the price paid by the underwriters–those grants will enrich its 1,859 employees by $2.9 billion, averaging $1.5 million per person, although the rewards are, as usual, heavily skewed towards the top brass. And that's just a taste of what's coming.
Assuming the founders held 30%, the employee equity was 1/30,000th that of founders. I don't understand how engineers are ok with their boss getting 30,000X their compensation.
Because the engineer doesn't assume any risk assuming they're being paid market salary? The engineer can stop working when they clock out? The engineer doesn't have their own awesome idea? Or they don't have the desire to run their own company?
There's certainly some types of startups where the risk rationale does apply. For example, the founders who went with zero pay for two years and got an early working version and happy customers before hiring their first employee. Yeah, those founders can justify their big percentage.
But the Silicon Valley mold is: a couple of guys quit their jobs, hit up VCs for a month or two with the roughest sketch of an idea, get funded, and hire their first employee a couple of weeks later. That employee gets maybe 1% maximum, or the order of 1/50th or less of what the founders. Meanwhile, the engineer will bust his ass, show up at work every day and code some more at night, debug on weekends, etc. "We're all in this together, team!"
Then on the happy day years later, the founders start pricing out their MacLarens, while the engineers blink "WTF" at their actual payout.
First, equity isn't compensation, it's ownership. Second, it's about risk. Third, it's about luck.
So, if you get paid a market salary and benefits, you can't really expect to own much of the company that's providing you with that salary and benefits as it's essentially burning money on you. If you came in and said "can I get 1% ownership if I take 15k a year with no benefits" that would be a different story, but that's not how this works.
If you go in to a startup and say "I'll take 15K a year w/no benefits" you'll get a flat-out NO. That big exit-event equity is not for engineers. It's for founders.
I'd say that a significant amount of founders of unicorn companies have not worked at a company that they didn't start themselves, so I don't see how that makes this situation unique/excusable.
Since this is just rumor, we probably don't know what the actual deal amount would have been after said and done, but probably more than they are getting with Fitbit.
I tell you, I feel for their CEO Eric Migicovsky.
SV lore is strong on how Mark and Larry&Sergey turned down offer after offer that in retrospect makes them look like prescient leaders and underdogs-turned-heroes. These are the stories that movies are made out of.
And how can you not want to follow in those footsteps?
And then you hand your company over at a fire-sale price, and for the rest of your life keep thinking... 700M... 700M... ugg it hurts.
We're developing a new way to search for event tickets (concerts, sports, theater, etc). We've been in this industry for 15+ years and have the knowledge and domain expertise to be sure that we are building something that people want. We are fully self funded from other ventures in the ticketing industry. You would be the first non-founder full time employee, and would be responsible for building out the frontend of the site. You will be building things from scratch using the framework of your choice, and would be leading design decisions. You will have an exceptional amount of autonomy as well as a very flexible work schedule. You would be working directly with the founders, who will focus on building out the back end of the codebase (python/mysql). To apply, send us an email at data (at) getdatacorp (dot) com