I’ve always joined startups around the low single digit billion valuation and they’ve all given me huge returns (upwards of 15x). I think it’s pretty obvious which companies are in hyper growth mode (early stage Uber, Airbnb, Stripe, Robinhood, etc).
So my question now (which may be silly) is why does anyone work at Google or Facebook? Especially those who have been at Google and Facebook for 4+ years. Clearly they’ve missed out on huge rocketship startups, and I don’t understand why they still work at these large tech companies and make less money than people who follow my strategy.
And yes those people at Google and Facebook may be senior managers making 700k a year or whatever, but I’ve been making over that amount with a lower engineering level simply by picking rocketship startups. Despite some rocketships not doing well post-ipo, joining early enough basically makes it inconsequential.
Better question even is why people bother joining Robinhood now? Sure, they might get some sweet offers of 350k for 2 yoe, but that’s not really comparable to picking an early stage startup and riding that rocket for free. Why bother joining these huge mature companies at all? Google has just grown maybe 3x in five years, which is tiny compared to hyper growth startups.
Tc: 1.1 million due to stock appreciation from joining early at Robinhood despite the stock tanking. Will soon join another early startup.
Yoe: 8+
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April 2017: Post money valuation $1.3b. Series C per share price $2.5
July 2021: Ipo happened $38 per share
I got the pre ipo share price from the sec form below (page F-58). If op can confirm this is true, that would be great!
Sources:
1. https://craft.co/robinhood/funding-rounds
2. https://www.sec.gov/Archives/edgar/data/1783879/000162828021013318/robinhoods-1.htm
The avg 40 yr old with 2 kids, a home mortgage and probably other responsibilities will not prefer to work in a risk laden startup.
If you are 20, just starting career go for it. Find a startup that excites you and work for it, see how it goes. Even if u lose everything and company burns down, just reset ur career and start fresh at a mid to large company. You will still be just in your late 20s, but with the knowledge, maturity and exposure of a comparable senior person in a mainstream company.
Which do you see on the horizon with the 10-50x returns you’ve experienced