zlacker

HN hates cryptocurrencies but 'equity' to me is even worse than the worst shitcoins. It's an IOU that the company controls (and one people think is a tangle part of their 'compensation.') Just imagine if a company thinks you're about to jump ship and you have equity close to being vested. The company almost has a perverse incentive to fire you to nullify that equity. This gets much much worse when you know the typical vesting schedules that startups like to use. I know some of you working at the top companies might get your equity vested every month. But in my experience its much more common to be talking about yearly vesting schedules at startups where you have to stay for many years to get anything.

So think about that. They offer you an average to low base salary but sweeten the deal with some 'equity' saying that it gives you a stake in the company. Neglecting to mention of course, how many different ways equity can be invalidated; How a year in tech is basically a life time; And how the whole thing is kind of structured to prevent autonomy as an employee. Often founders will use these kind of offers to gauge 'interest' because surely the people who are willing to take an offer that's backed more by magic bean equity money (over real money) are truly the ones most dedicated to the companies mission. So not being grateful for such amazing offers would be taken as a sign of offence by most founders (who would prefer to pay in hopes and dreams if they could.)

Now... with a shitcoin... even though the price may tank to zero you'll at least end up with a goofy item you own at the end of the day. Equity... not so much.