Antonio García Martínez+ Your Authors @antoniogm Bylines @WIRED, etc. Wrote 'Chaos Monkeys' (amzn.to/2ow1CHE). Formerly @facebook, @ycombinator. גם זה יעבור 🇺🇲🇪🇸 Sep. 25, 2019 1 min read + Your Authors

By the time a unicorn startup's valuation starts cratering, the CEO/founders have already sold 10s or 100s of millions in secondary sales, and the VCs are likely still above water thanks to liquidation preferences. The people who get screwed are employees holding common stock.

So everyone cheering on the demise of WeWork or Uber or whatever, and the resulting CEO defenestration, thinking the founder bogeyman got screwed...actually, he just goes and cries into his money for a day, and then does it again.

The people *really* crying are the employees, many of whom stuck out grueling hours over years, getting paid in paper promises, who suddenly watch it all go to zero (often their money going up in flames too....they cashed out everything to buy their shares when they left).


You can follow @antoniogm.



Bookmark

____
Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Since you’re here...

... we’re asking visitors like you to make a contribution to support this independent project. In these uncertain times, access to information is vital. Threader gets 1,000,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Your financial support will help two developers to keep working on this app. Everyone’s contribution, big or small, is so valuable. Support Threader by becoming premium or by donating on PayPal. Thank you.


Follow Threader