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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    1. Patrick McKenzie‏ @patio11 3 May 2019
      • Report Tweet
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      Patrick McKenzie Retweeted Harvey Multani

      Now *that* is an intriguing idea. A refinement might be something like a "Employees of YC Winter 2019 Class" syndicate, which might be even more employee-friendly, due to the diversification factor, and might alleviate some social concerns internal to a company.https://twitter.com/HarveyMultani/status/1123932050950639616 …

      Patrick McKenzie added,

      Harvey Multani @HarveyMultani
      Prediction: within 5 years, an employee led syndicate will be a major participant in every round of every fast growing startup. Organizers of the syndicates will rotate through a board seat.
      Show this thread
      9 replies 1 retweet 76 likes
      Show this thread
    2. Patrick McKenzie‏ @patio11 3 May 2019
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      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.

      3 replies 1 retweet 23 likes
      Show this thread
      Patrick McKenzie‏ @patio11 3 May 2019
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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.

      5:31 AM - 3 May 2019
      • 2 Retweets
      • 16 Likes
      • john_c_palmer John Lee Krishna Nick Baum 🇸🇪 Guillaume Ceccarelli Thijs Niks Roger Helkey Daniel Ramirez simp! heaven! now!
      2 replies 2 retweets 16 likes
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        2. Patrick McKenzie‏ @patio11 3 May 2019
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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?"

          1 reply 0 retweets 9 likes
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        3. Patrick McKenzie‏ @patio11 3 May 2019
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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.

          1 reply 1 retweet 6 likes
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        4. Patrick McKenzie‏ @patio11 3 May 2019
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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.

          0 replies 0 retweets 10 likes
          Show this thread
        5. End of conversation
        1. Jim Weisser‏ @jimbudweisser 3 May 2019
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          Replying to @patio11

          My general answer in startup world to buying stock is no, particularly in the post-founding/post series A time frame. You are already overweight exposure to a single, illiquid stock.

          0 replies 0 retweets 0 likes
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