current stock market is the reason people are obsessed about FAANG

Jan 5 13 Comments

Joined Opendoor at ATH. TC down by 60%. Declined Google for this shi*hole. Drank the kool-aid and TC offered was 20% more than Google. Regretting big time.

Lessons learnt from this experience
1) Never join random SV unicorns who do not have a profitable business.
2) Always account for 30-40% decline in TC when comparing these unicorn offers with FAANG offers.

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 TOP 13 Comments
  • It’s not too late to quit lol. Many of these startup won’t even survive in the upcoming recession. I have been making comments since Oct last year that a lot of these bubbles are going to burst. Housing market will be hurt as well.
    Jan 5 2
    • VMware
      OWpk74

      Go to company page VMware

      OWpk74
      Where do we put our money then great sir?
      Jan 5
    • Things on my list: 1. FANG stocks 2. Energy sector like XLE 3. Health care: XLV 4. Value stocks: BRKB 6. Chinese stocks: Mainly stocks in the SSE composite. 7. I do keep a good amount of cash 8. Bonds. 9. Sark as a hedge lol. This is not a financial advice. You have to know what you are doing before investing your own money lol.
      Jan 5
  • Brex
    BsWA80

    Go to company page Brex

    BsWA80
    I would not join opendoor at all. Only fintech and saas are worth joining according to the start up researches and data.
    Jan 5 1
  • Meta
    fomosapien

    Go to company page Meta

    fomosapien
    Companies with smaller market cap brings the risk of having your NW go 10x or 1/10x.

    I would consider such companies but right now TC is very important for me. I can take the risks with my investments but not with my income.
    Jan 5 0
  • eBay
    Tim Fook

    Go to company page eBay

    Tim Fook
    Sorry about that.

    I’m cautious of entering any company from alternate industry disguising themselves as tech. All they have is a website and tonn of VC money to buy out properties. I’d do that on my own plus 10 family members if I had VC money minus the sham of positioning as “tech” company.
    Jan 5 2
    • Without tech, it is hard to scale with only money and people. How to define “tech company”? Is there any tech company in real estate? The same thoughts can apply to other industries such as gig economy, retail.
      Jan 9
    • eBay
      Tim Fook

      Go to company page eBay

      Tim Fook
      Zillow is a tech company in real estate because it democratized the real estate sales and inventory data (at scale), help connect buyer/seller to agents, and build a lot of automation workflows for agents in sourcing clients. It needs some solid infra to handle all of these in the backend.
      Jan 9
  • Cruise
    Stella-is

    Go to company page Cruise

    Stella-is
    What about someone joining now, considering potential future upside?
    Jan 5 0