To elaborate a little bit here: Most employees are probably over-exposed to the future of their company by both equity ownership and the implicit current value of their future career prospects both being a) heavily correlated to the company and b) very large relative to wealth.
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So if somebody was early-career and asked me "Hey should I buy more stock in my employer", even if ceteris paribus that were available at an attractive price, that is probably not a great financial decision in most cases.
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Additionally, compensation schemes at a company run into some fraught issues with employee-to-employee fairness, and one underappreciated dimension that employees are different on is "Has this person e.g. benefited from 1+ exits before?"
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It could plausibly do unwonderful things to internal morale if two peers mutually know that they're approximately equal with regards to how the company evaluates status but because one of them was around for the last IPO and one wasn't their effective comp is very different.
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I think that is plausibly defanged a little bit by emphasizing that the perk is mostly about investing in other-than-one's-employer companies, because Silicon Valley is basically OK with capitalism outdoors but often tends towards socialism indoors.
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How is that "syndicate" thing different from a trade union?
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So a syndicate as Harvey is using it here means "a pooled investment vehicle, funded by relatively small checks by a relatively large number of professionals and investing as a unit into a private company." It is not similar to a union.
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Surely the arch capitalists at Silicon Valley HQ won’t be stupid enough to let this kind of proto labor union into the chicken coop...?
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We can split hairs about whether a syndicate is a labor union, but if we are pooling cash for power in a corporation in order to give labor a voice in its operation, the end is the same with only the means being different.
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Yes! We should definitely discuss this next time we hang too. I think this is part of larger packet of new forms of venture we'll see as it continues to move from two sided to one sided
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Amazed that Twitter didn't surface this thread to me earlier
Coincidentally this prediction was primarily initially inspired by both of your (@kevinakwok@patio11) writings/book reccs/ideas (salary negotiation, engineering marketing, Boyd, Caro, etc.)
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