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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 23 Dec 2015
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      Sometimes I feel like startup culture does a two-step about equity: "Don't count on it. Most goes to 0. BUT you'll be a winner and get rich"

      2 replies 1 retweet 30 likes
      Patrick McKenzie‏ @patio11 23 Dec 2015
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      We all know equity exists to get employees to work for below-market salaries, right? We're businessmen here? We can admit that's the intent?

      2:57 PM - 23 Dec 2015
      • 17 Retweets
      • 54 Likes
      • Joe Bryan mer Artis Schlossberg Eli Courtwright Santiago Kohan Ikin Richard Felix Joshua Conner James Law
      8 replies 17 retweets 54 likes
        1. New conversation
        2. Patrick McKenzie‏ @patio11 23 Dec 2015
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          Replying to @patio11

          We all know that "How equity is presented in an offer letter, with a spreadsheet showing payout given hypothetical valuations" is a thing?

          3 replies 1 retweet 9 likes
        3. Patrick McKenzie‏ @patio11 23 Dec 2015
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          Replying to @patio11

          We know how many characters of that offer letter are devoted to the 70~90% case, where the common is worth $0 (less tax/exercise cost)?

          1 reply 1 retweet 7 likes
        4. 3 more replies
        1. Gadi Evron‏ @gadievron 23 Dec 2015
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          Replying to @patio11

          @patio11 @thegrugq equity exists because risk, sweat, and commitment need to be appreciated, and so startups can afford quality employees

          0 replies 1 retweet 1 like
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        1. Ry4an Brase‏ @Ry4an 23 Dec 2015
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          Replying to @patio11

          @patio11 sometimes to balance job-prestige, which is a different axis from salary on the comp grid.

          0 replies 0 retweets 0 likes
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        1. Jessica Johnson‏ @JJClassicBeauty 23 Dec 2015
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          Replying to @patio11

          @patio11 @mdesjardins I'm afraid I'm forced to diverge from my agreeable disposition to disagree with you.

          0 replies 0 retweets 0 likes
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        1. ポール チャップマン‏ @pchap10k 23 Dec 2015
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          Replying to @patio11

          @patio11 Equity also exists to persuade consenting adults to assume more risk than they’d have to for the same salary elsewhere.

          0 replies 0 retweets 0 likes
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        1. Biggles‏ @Taco_Lad 23 Dec 2015
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          Replying to @patio11

          @patio11 equity exposes me to bankruptcy risks. If I don't have a say in how that risk is mitigated i.e. business decisions, then gtfo.

          0 replies 0 retweets 0 likes
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        1. Paul Melson‏ @pmelson 23 Dec 2015
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          Replying to @patio11

          @patio11 @thegrugq Equity at companies whose cash-on-hand consists of investor debt is gambling, sure. Not all of us are so naive. :-)

          0 replies 0 retweets 0 likes
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        1. Josh Doody‏ @JoshDoody 23 Dec 2015
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          Replying to @patio11

          @patio11 We don’t all know equity is a tease for lower salary, but I’m doing my part. 😉 From this afternoon:pic.twitter.com/8JGU0rOB1c

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