Lyft job offers were a scam

New NcEf26
May 10, 2019 30 Comments

Everyone who took lyft 300k+ offers that we’re mostly stock got bamboozled by lyft. The supposedly high valuation they had was a lie, this stock could hit 30$, in which case some of you probably saw a hit on TC instead of the big raise you thought. It’s also why google doesn’t match paper money, it’s just that - paper.

Another thing I want to add here is that funding rounds are not reliable estimations of company value on the public market. Money is cheap, VCs need somewhere to put it. Surely there are financial analysts inside lyft and at large banks who had a realistic understanding of their real public market valuation. This was not and will never be communicated to rank and file employees

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TOP 30 Comments
  • That was the most probable outcome. Getting rekt I mean.
    May 10, 2019 0
  • LinkedIn / Finance ZerotoIPO
    I had an offer 6 months ago, gave me stock valuing $29.99 a share. Not a huge upside, but at least it is still 65% more
    May 10, 2019 5
    • Salesforce sk8er
      Wow what is L8 offer like? 2M RSU?
      May 10, 2019
    • eBay / Other ebabe
      Director?
      May 21, 2019
  • Google zOKe30
    The high valuation was real, that’s no scam. The public markets have valued it differently and it slid, but that’s the risk you accept for a newly public company.
    May 10, 2019 3
    • Amazon / Eng n0v
      If someone is putting real money down, that's real valuation. VCs are usually better than the market at valuing. It's the market that has changed in the last year. Cash is tighter, and there's less tolerance for not being profitable.
      May 10, 2019
    • New NcEf26
      OP
      This isn’t how current venture capital works.
      May 10, 2019
  • Paper money is paper.
    May 10, 2019 1
    • Amazon hot 🍞
      I'll take all this unwanted paper money
      May 10, 2019
  • LinkedIn anbgjdy
    Pre-IPO offers were given out at a preferred price lower than the current public market price. So how were the offers a scam again?
    May 10, 2019 0
  • Amazon hot 🍞
    I like paper money
    May 10, 2019 0
  • Facebook public2
    Yea duh. It's not a scam, it's business. If you don't have a basic understanding of a business don't join or at least don't complain.
    May 10, 2019 2
    • Microsoft
      wizard1

      Microsoft

      PRE
      Taco Bell, Campbell Soup, Jack in the Box
      wizard1more
      It’s a business that’s been subsidized by vc money lol. There are literally no economies of scale here. Costs rise with scale. Good luck with that self driving car nonsense. We are at least a decade or two away for that to become mass market cuz the only way to realize that is via new infrastructure where idiots aren’t in control of their vehicles.
      May 10, 2019
    • Facebook public2
      Uh, more like a couple of years hopefully. 20 years to get the last few percent on self driving would be ridiculous
      May 10, 2019
  • Google ckxkkand
    How much did they value the stock at when they gave em out? Shouldn’t it match up with the private market valuation (which is typically less than the valuation when they go public)?
    May 10, 2019 1
    • Amazon hot 🍞
      They are paying people in hype, like hype is a currency. 3.50 hypes
      May 10, 2019
  • Coupang / Eng
    Ka-chow!💥

    Coupang Eng

    PRE
    Facebook
    BIO
    I am speed.
    Ka-chow!💥more
    Lyft offers are offered in dollar values, not share values, and is based in a 20 day trailing period at the time of the initial grant. So... it’s actually not fake money.
    May 10, 2019 0
  • Oracle / Eng aham
    Story of most pre IPO tech companies. There is always hype and only some live up to it!
    May 10, 2019 0

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