As an employee whose company just got acquired, are you excited for the long term vision at Woven Planet? Also, what do you think about the comp structure, I know salary is same but the liquid Lyft stocks now become options in woven planet, and you get less of them. I heard the new comp statements with adjusted equity just went out to all the existing employees, which I understand to be “pay cuts” due to lack of liquidity and difficult to get the value for woven planet so early since it was formed this year… YOE 7 TC 307k
What happened to people with lots of unvested RSUs?
Lyft has switched to one-year cliffs so it shouldn’t matter
That’s recent though, if you had 2 years left do you just lose it? Do 1 Year grants accelerate when the acquisition happens?
Wtf is woven planet
For those who are interviewing or already put on the notice to leave... can you elaborate on why?
They cut everyone's pay by a lot. The leadership is super incompetent and the way they handled the whole acquisition in secrecy by providing lots of misinformation pissed everyone off. The talent on WP is also subpar.
Sucky pay - interesting. They must've known by offering less would lose talent from Lyft. Sucky leadership/talent - how did you pick this up? Meetings or...
Huge paycut, equity incentive is not competitive.
What is “equity incentive”? Is it liquid?
Management had complete disregard for humanity during the pandemic. it helps that they hired a lot of junior ICs who couldn’t go elsewhere. A lot of early execs have left knowing this is a sinking ship.
Did they force people into the office?
What happened??
For new hires, will equity grants all be in 'woven planet' stock?
Options
What do your golden handcuffs look like?
There are no golden handcuffs. Simply a cash bonus that tapers off intended to take the place of liquid Lyft equity.