2020/2021 IPOs like snowflake, Coinbase etc created many millionaires. How are they doing now? Asking because I am not sure if employees can sell their stocks immediately after IPO. TC 350K
They are crying because their TC have tanked. Coinbase lost 80% of the share price. Stop glamorizing quick money like playing a Russian roulette and work your ass up. It was a fluke and timing that they IPOed in a time when FED was pumping money. You wonโt see such anomaly happen anytime soon. If you see historically after IPOes companies usually tanks for 1-2 years before recovering. Because private equity is bubble and hype. Donโt forget that you are also losing on investment opportunities because more cash power that you could have done if you were with publicly traded company.
Coinbase idiots have been tooting their own horn on here so much. From defending their idiotic monoculture, to their employee-damaging 1-year RSU grants. They might be all out of juice now, exhausted from all that circle jerking.
Yes the 1 year RSU grant is not great in a bull runโฆ but ask Netflix peeps how their options are going. In 8 months cb employee rsu pain stops and a ton of upside opens up.
Why is it so better to make a million via lower ROI FAANG vs others? Why the hate?
Jealousy
Maybe they sold Good for them
Not bad .. sold a few $M worth of shares last year and still holding a good amount. Sure, itโs currently down 80% from peak (and seeing that hurts), but my TC is still well over $1M and I partially cashed out.
Nice!!! Congratulations ๐๐๐
When did you join Coinbase?
Doing pretty great. Sold enough to FatFIRE before the market crashed and now holding onto the rest for sentimental reasons.
That's right. There was no lock up when CB went public. Unloaded $8M (2.5 years of vested stock options) on DPO day. One only needs to make one correct decision to become FIRE
Joined out of college and cashed out about half last year. Paid about 1.8 mil in taxes in the past two years ๐ค๐ค
Did u keep the cash tho ๐
Invested it in some other growth stocks, bought a 4-plex, invested in crypto xD
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6 month lock out period just look at that price.
Wait, when a company goes public you can't sell immediately?
Lol there's a thing called inside trading. If there wasn't a lockout period every startup will be screaming buzzwords to hype fast ipo and screw over public investors with a pump and dump. Private companies don't report their Financials, public do.