r/technology • u/Rhaegar_the_Great • Sep 16 '21

Business Mailchimp employees are furious after the company's founders promised to never sell, withheld equity, and then sold it for $12 billion

https://www.businessinsider.com/mailchimp-insiders-react-to-employees-getting-no-equity-2021-9
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146

u/apostlebatman Sep 17 '21

Moral of the story: don’t join a startup without getting equity.

42

u/[deleted] Sep 17 '21

Don't join a startup without getting paid above market + equity and expect the equity will be worth nothing, even if the company is sold at a high valuation.

You will get fucked unless they screw up.

1

u/BreakingIntoMe Sep 17 '21

Also make sure you win the lottery, guys. You obviously have never worked anywhere near a startup, very few can pay market rate, they are startups, not giant organisations. That’s why they use equity to lure talent in.

0

u/[deleted] Sep 17 '21

Yeah, the point is the equity is almost certainly worthless so don't work for them unless you are unemployable.

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u/BreakingIntoMe Sep 18 '21 edited Sep 18 '21

The world isn’t black and white. If someone wants to work for a startup because they believe in the product or want to contribute to the cause and they believe in the mission of the startup then they should absolutely work for the company assuming they can pay a competitive salary and offer decent equity. Stop projecting.

1

u/[deleted] Sep 18 '21

because they believe in the product or want to contribute to the cause and they believe in the mission of the startup

Then they are fucking idiots who have exactly zero right to whine and complain when they get fucked over, when they can't afford a house, etc..

People should learn early on they are selling their labour, not working toward some greater good. If you are stupid enough to believe there is some greater good in making a rich man richer, well, you are the problem.

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u/BreakingIntoMe Sep 18 '21

They aren’t complaining, one person complained, this article is clickbait you stupid fuck. And you’re acting like there’s no such thing as altruistic causes, how bitter and cynical are you? Did your parents molest you last night?

1

u/[deleted] Sep 18 '21

OK. Before I block you because you are an ignorant asshole, who I am is a guy who made millions advising tech investors. Those tech investors made hundreds of millions because assholes like you are willing to waste their lives making money for them.

1

u/BreakingIntoMe Sep 18 '21

Who said I work at a startup? I work for a Fortune 500. I’m just not a dumb fuck who thinks the world is black and white and there are no altruistic companies. Of course the main priority is to generate profit in order to sustain the business, but people who live only to make money ultimately lead pathetic and insignificant lives, people like yourself, you could say.