If you go to work at Chime or a similarly positioned company that is already receiving large valuations and on the precipice of IPO (or like WeWork a year ago) and then they IPO do you get rich? Or do you have to get on with a company earlier on? I don’t really get how pre-IPO works and wonder if it’s like other things in life where if you don’t know until everyone knows then you know too late.
TC $328,000
M2, 11 YOE, non-tech
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The upside is limited in the current market. In the current market, I guess 2x at most in the next few years. It may go down to 1/2 like Robinhood in the short run too. I think the range is 1/2 x ~ 2x in the short run.
If you wanna get rich, I think finding promising series B/C company is important.
For highly valued pre IPOs, I would multiply 0.7(arbitrary multiplier) to the paper money because anything can happen before the IPO(Wework, Better, IPO on the horizon almost forever etc.)
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Facebook or Google post IPO performance and reputation is no where comparable to Uber performance.
Do whatever decision you take at the end it depends on how th company executes in post IPO period to maintain the same standard.
There were mass migrations from Microsoft to google to Facebook to Uber what we remember but there are many in between which flopped( or didn't grow as expected) even after having Rockstar engineers. Because at the end it depends on founders vision how they want to carry their company in long term.
Ex - Facebook was written off many times in past due to it's known issues but mark has grown the company irrespective of those critics. May be Uber case would have been different if Travis was still the CEO because founder driven companies in general do much better than other's.
So you can take the gamble and if it hits then you get rich but there are chances that gamble won't work even when all check boxes are ticked