I've worked in the public sector (government) for all of my career. However, I am now looking at moving into the private sector and one of the positions I have my eye on is at a startup. I have very little private sector business knowledge about things like start ups and the various series. Anyone one wanna give me the low down or a recommendation for an informative/trustworthy explanation of everything. Big concerns are things like security of Series F vs D vs C vs etc. The pros and cons etc. TC: 80k only base #startup #startups
start here https://danluu.com/startup-tradeoffs/ and here https://danluu.com/startup-options/ then read the holloway guide to equity
Thanks for this, will give it a good read!
You have an 80k base. Sir there is almost no risk for you. Just realize you will have to most faster than you do in the government.
I will say that MY office and team move very fast, it's once we move outside of our office and into the red tape of bureaucracy that we get caught up haha
I guess my worry is about being in a start up that goes so wrong you walk into the office one day and nothing is there because it closed over night. Also while it might not be a HUGE risk, we do live in a MCOL city so it would suck for my partner (also public sector government) to be the only source of income.
DM me if you want to talk more, but I was kind of in the same boat as you, a bit higher pay (120). I now work for a startup remotely and make double when including my bonus. My company is pre-IPO and we are kind of a unicorn. I definitely had the jitters leaving a cushy government job for industry. My spouse and I figured out that our savings were enough for 2-3 years without a job for any of us and took the leap of faith. I recommend looking into the investor interest in the domain of the startup and trying to get a good sense of where it’s coming and where it’s going. If things go upside down, I can always use my connections in my MCOL city to get back into a government job or I know I can always reach out to my previous employers. Key was always leaving on good terms.
The earlier the series the higher the risk. But where there is risk there is opportunity for high return if the company exits. People who joined early stage get equity calculated by percentage. But when the company gets more fundings equity also gets diluted.