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The Quasi Interview - What would you like to know?

N

NIGGER_ANNIHILATOR_1488

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I won't really say too much at this point as to not doxx myself too much. but what I would recommend in general non technically is to find the aspect you actually like doing. Some people hate vague requirements. They need process and structure. They get frustrated when shit doesnt work. They are a perfectionist and want to iron out every bug. Work for a big mature company.

If you want low stress easy hours, who gives a shit requirements. Work in the public sector. State universities, Healthcare companies. There's so much bureaucracy you barely have to work ever. You'll be waiting on approvals all the tiem.vif that doesn't bore you then that would be the job.

Do you like to hack things together to just et it working, jump from project to project. Shift priorities daily. If working on something for months that gets abandoned and never to production doesn't bother you then early stage startup is for you.

late stage startup is kind of a happy medium, you don't get greenfield like series a , bit you don't have 40 years of process like Microsoft would.

There's more but you get the idea. The other thing is the job itself. Do you like perfecting small changes, having you work be customer facing, more on product changes etc. Work on the front end or work in product.

Like working with customers but hate sales? Work customer success. Lile support. Work In operations. Like building shit and upgrades don't annoy you ? Work platform. Like programming but you suck at it and also like building tools and scripts, work devops.

Do you like tinkering, tuning, scaling and capacity planning. As well as monitoring and tooling , go for sre.
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Appreciate the fawkin advice. I'm thinking my best bet right now is to pick up a second gig at a non-retarded early stage startup.
 
Prison Enjoyer

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Stent said:
The answer is Yes regardless of how you finish the question.

There's been some stunning and insightful (Dan, reference) questions. Now nobody will be disappointed and complain after the interview. That's how you executive produce!
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If not in this thread yet: Straight up, who has paid both debts?

He's implied the secret benefactor did not conceal their identity and transferred the moola to Pawlowski directly.

We know it's Lynne but it'd be nice to have confirmation. And knowledge of any discussions behind the scenes on that fateful August day when Patrick's life was saved from jail.
 
quasi101

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Anthonigger Coonmia said:
Appreciate the fawkin advice. I'm thinking my best bet right now is to pick up a second gig at a non-retarded early stage startup.
Click to expand...

Its a decent idea early in your career , but make sure you're aware of the cons. If you go real early, pre-series a , you'll make no money basically, but you should get founder level ownership or options. I think series A is the sweet spot. You'll get enough in stock if you are in as the first 30 or so to make a lot of money if you have a liquidation event (ipo, purchase or merger) and you'll only take about a 15-20% pay cut. Assuming a 200k senior role, you’d be looking at about 170k. Over 5 years that’s a 150k difference (30k*5)

Going through a hypothetical ipo. Lets say you get an offer for a series A and they give you 0.1% ownership. The CAP table will allocate something like 10-20% for the employee pool and 20% for the VCs (leaving 60% for founders maintaining ownership).

For a basic tech startup now we’ll use 10mil funding round because the numbers are easier. So that's a 60mil post money valuation (10/0.2 =50 +10).
Our employee get 0.1% from the 60mil valuation so they are offered options valued at 60k (60mil *0.001). If the strike price is $0.20 / share the employee offer would be 300k options vested over 5 years.

We’ll use a basic 2-4x growth each round and an IPO exit at round D. using 3x each round as the average.

B round gives us a 180mil valuation and a fmv of $0.60. We’ll assume a 2/5 vest , so the options here are 60k*2 = 120k. And the value is at 120k*0.6 = $72,000.

C round gives us a 540 mil valuation (180*3) , a fmv of $1.80 and we’ll vest 3 years. That’s 180k options at $1.80 = $324,000. You can see where C round is when you start to really get value.

We’ll exit at round D. Another 3x and the company valuation is at 1.62 billion. The fmv is now $5.40. We’ll ipo there just for simplicity (too low for a realistic ipo but the numbers were easier this way). You’ve fully vested here at 5 years and all 300k options. So your option values are at 1.620 million now. However a tech ipo will probably be around 15-30, so lets say $20. Your options are worth 6mil then (300k*20).

You’ll have been diluted to death but unless you care about ownership it doesn’t really affect you too much. It affects dividends and some other shit, but that's above my pay grade.

But this is just a gamble obviously. More often than not series A startups fail. As you progress in rounds the risk is lower but so is the equity compensation. They make up for this by giving you market rates around b or c round. There’s also the risk you never have a liquidation event. In that case you’ve lost out on the lower salary. If you are just starting your career , I think this is made up for in two ways.
1. you get more senior experience and resume stuffers than you would in a bigger or public company
2. If your company is very profitable but never goes ipo or some other event, you’ll have seniority and will likely make up the missed salary by making more in the middle of your career.

Make sure to try to negotiate stock allocation during each round. Sometimes they let you buy it or if you are senior enough you get some for free. If they tell you they are strapped for cash when raises or bonuses come, make sure to tell them you’re taking a pay cut and they are not strapped for “options”.


 
N

NIGGER_ANNIHILATOR_1488

Guest
admin said:
Its a decent idea early in your career , but make sure you're aware of the cons. If you go real early, pre-series a , you'll make no money basically, but you should get founder level ownership or options. I think series A is the sweet spot. You'll get enough in stock if you are in as the first 30 or so to make a lot of money if you have a liquidation event (ipo, purchase or merger) and you'll only take about a 15-20% pay cut. Assuming a 200k senior role, you’d be looking at about 170k. Over 5 years that’s a 150k difference (30k*5)

Going through a hypothetical ipo. Lets say you get an offer for a series A and they give you 0.1% ownership. The CAP table will allocate something like 10-20% for the employee pool and 20% for the VCs (leaving 60% for founders maintaining ownership).

For a basic tech startup now we’ll use 10mil funding round because the numbers are easier. So that's a 60mil post money valuation (10/0.2 =50 +10).
Our employee get 0.1% from the 60mil valuation so they are offered options valued at 60k (60mil *0.001). If the strike price is $0.20 / share the employee offer would be 300k options vested over 5 years.

We’ll use a basic 2-4x growth each round and an IPO exit at round D. using 3x each round as the average.

B round gives us a 180mil valuation and a fmv of $0.60. We’ll assume a 2/5 vest , so the options here are 60k*2 = 120k. And the value is at 120k*0.6 = $72,000.

C round gives us a 540 mil valuation (180*3) , a fmv of $1.80 and we’ll vest 3 years. That’s 180k options at $1.80 = $324,000. You can see where C round is when you start to really get value.

We’ll exit at round D. Another 3x and the company valuation is at 1.62 billion. The fmv is now $5.40. We’ll ipo there just for simplicity (too low for a realistic ipo but the numbers were easier this way). You’ve fully vested here at 5 years and all 300k options. So your option values are at 1.620 million now. However a tech ipo will probably be around 15-30, so lets say $20. Your options are worth 6mil then (300k*20).

You’ll have been diluted to death but unless you care about ownership it doesn’t really affect you too much. It affects dividends and some other shit, but that's above my pay grade.

But this is just a gamble obviously. More often than not series A startups fail. As you progress in rounds the risk is lower but so is the equity compensation. They make up for this by giving you market rates around b or c round. There’s also the risk you never have a liquidation event. In that case you’ve lost out on the lower salary. If you are just starting your career , I think this is made up for in two ways.
1. you get more senior experience and resume stuffers than you would in a bigger or public company
2. If your company is very profitable but never goes ipo or some other event, you’ll have seniority and will likely make up the missed salary by making more in the middle of your career.

Make sure to try to negotiate stock allocation during each round. Sometimes they let you buy it or if you are senior enough you get some for free. If they tell you they are strapped for cash when raises or bonuses come, make sure to tell them you’re taking a pay cut and they are not strapped for “options”.


Click to expand...
Much fawkin appreciated. Where do you suggest one go scrounging around for these types of companies? I'm thinking y combinator but maybe there's some other places
 
CuntFucker

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Anthonigger Coonmia said:
Much fawkin appreciated. Where do you suggest one go scrounging around for these types of companies? I'm thinking y combinator but maybe there's some other places
Click to expand...
OK, we'll re-enter at round E. Integrate AI into your CMS system and buy stocks in Elon Musk. Sell all assets and re-mortgage your dividends, then put everything on red. If you win, you've just doubled you net revenue. I hear bitcoin is big at the moment. When you re-enter at round F, invest everything into bitcoin, and form as many shady "AI" themed LLPs and apply for as many govt loans as possible.
 
CuntFucker

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