#startup the word has lost value since the 2020/21 era and employees/founders are actually feeling it now. #Founders felt like Sugar Daddies and employees started asking for it. What is a real startup? no actual chair to even sit, that is a startup, you don't have loads of money, hence the word (we are a startup)
During 2019 end to 2022 people got ridiculous amounts of funding, funds beyond the actual numbers, 44x revenue multiples and what not, like bro, do you have a proper GTM, nobody fkin knows, but are you the founder that know that other guy? yes, here here take my money, strip my VC fund and take all of it.
Employees were looking for Sugar daddies not companies, fkin 2 off sites/ quarter, #bmw bikes/cars, 5X salary competitions, unlimited time offs, (Do you know how many actual leaves are ideal in an actual #startup? 0). Joining bonuses going upto $10k in India. Are you serious? is that a startup, or a sugar daddy?
Most of these startups went bankrupt or have lost value because they deserve it, They were working in startups because the leadership is a young team, it's real chill and all those bs. founders were doing it because it was trendy and cool. Nothing actually converts into value. These employees are all out there looking for same packages now, obviously they ain't getting it, so taking paycuts. Those founders are in some corner of some city, building their next idea!
Everytime I read stuff like this my only thought is - at least once in my lifetime I should work for an org like this.
Mega investor money, no guardrails on spending it, living the life.
I agree, maybe I wrote this rant, coz I never got those ridiculous founders and salaries 😭
I know the feeling.
Especially when I see inc42 or their ilk reporting on the said startup's annual results:
Revenue - ₹ 16 Lacs Spend - ₹ 203 crores
You know you've missed out on some gravy train.
Paycut? I got a call from someone who took the route you described and asked me to create a opening under me and hire him for x% above his current salary. I wouldn't even hire him for 50% pay cut. The entitlement still exists
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