Hi.. am about to start interviewing at Lyft. It looks like the RSUs offered by Lyft are incredulous - most offers i see these days are around ~1.2+ Million. I hear even if you leave before IPO, they hold the vested RSUs for you for around 7 years. They also give a decent base.. not great but not bad either. Given all this, what's the catch ? Shouldn't everyone from Google/fb mad rush to interview there ? Surely theyd IPO in a couple of years and then you have potential to be Mr.Scrooge level rich... Unlike most other startups where it's not really worth joining unless you joined in the first couple of years..
I was given an offer from uber when the rsu was valued at $48, and hr told me with confidence that the price would easily get doubled in 6 month because they were growing at a pace no one had ever seen. Should've lost big if i believed her. If you want more evidences, look at snap, zynga, groupon, zenefits... Its definitely a good opportunity to join these companies at this moment. I've seen very positive cases as well. But overall you might not make much more, at least not as you would expect, as compared to staying in FANG, given the uncertainty, worse benefits, refreshes, and tc increases. Also experiences in FANG are better valued, which can help in the long run.
The story is different in ride sharing market as compared to the startups mentioned by you. Firstly even today, Uber and Lyft combined just account for 0.5% of total miles travelled. So there is still a huge scope for them to grow. Secondly because of the offline infrastructure required, a penetration into the market is possible mostly through acquisitions but next to impossible otherwise.
As a tertiary question, isn’t there some collaboration between Lyft and Waymo on autonomous driving?
$1.2m are roughly starting Staff offers at Lyft/Uber. L6 are outliers. Certainly not “most” offers. Plus, someone who can get Staff at F/G can get a comparable amount anyway but it’s liquid.
If Lyft IPOs anytime in the near future they’ll plummet after the first public earnings call when investors realize how much they spend on buying market share (rather than tech or infrastructure). They’re essentially a marketing company. They burn all their cash on buying market share from Uber in the form of driver incentives and rider promos. Also those pink ads you see in airports as you’re ordering your Uber. It was Groupon’s strategy - how did that turn out for them? #Groupon2.0 If you opt for those million RSUs from Lyft, you’ll need to wait a decade or more to be Scrooge rich if ever
How is uber different? (not meant to be a tongue in cheek question)
We spend more on tech and infrastructure like hubs for driver support & elevate / freight And a lot less on ads and incentives
As I understand it Lyft don’t give out bonus and refresher. I have that amount at least in Uber stock and I get a good bonus each year, pay rise and another 100-200k stock. I understand that you stay flat at Lyft. And you are playing for B team...
It's possible to get promoted or a small pay bump every year
G/FB can easily offer the same/higher salary (w their equality liquidable) for their senior swes. Many companies in the valley can do the same.
I wonder whether these two companies become profitable. Their self driving cars reality is 10 to 15 years away. These two companies have to swim through expected downturn in two years from now. In a downturn no one think about using their services. It seems risky and these RSUs can go worthless. The MIT article said drivers see immediate cash and they get an illusion that they are making good profits using these services. In reality if they consider maintenance, depreciation, wear and tear they make only $5 per hour. I am skeptical about the value of these RSUs.
That was a bullshit study, admittedly bullshit by the very team that ran it. GTFO
Anyone know anything about Grab? Couldn’t find their info on levels.fyi. Seeing lots of people here who are knowledgeable on Lyft/Uber. It’ll be a big help if you can share some insights on Grab job in the Seattle area as well. What are their levels and typical comp for Sr. SWE? Do they have plan to do IPO in the next 2-3 years?
Did I will buy Grab within 2 years
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Glad someone has the same question as I did! I always thought that only the founding members of the team got those many options.
lol, “founding members” have surely vested 50M+ of options