I’ve seen this happen to multiple people. Join a startup with good perks, listen to the siren song of “the stock price will go up!” while the owners are out getting offers for their shares, then the owners sell out or the company tanks and you’re left with nothing despite having millions just a couple years ago on paper.
The key is to sell out once you have enough that it makes enough to impact your life. 500k or more is enough to escape poverty for almost anybody for life.
Even if you just sold it as it vested you would probably be better off.
It works a little different for employee owned companies, but you’ve the right spirit. This company grew from about 1972 on- a long, successful legacy. Shame to watch it fall
Yeah, the nuance is kind of nuts but i’ve got a relative who had and lost about 5m. Could have cashed out at the 5m number but didn’t. Got about 40k at the end of all of it.
Numerous friends who went into startups have somewhat similar things, but few had that much equity available for sale at any time.
I’ve seen this happen to multiple people. Join a startup with good perks, listen to the siren song of “the stock price will go up!” while the owners are out getting offers for their shares, then the owners sell out or the company tanks and you’re left with nothing despite having millions just a couple years ago on paper.
The key is to sell out once you have enough that it makes enough to impact your life. 500k or more is enough to escape poverty for almost anybody for life.
Even if you just sold it as it vested you would probably be better off.
It works a little different for employee owned companies, but you’ve the right spirit. This company grew from about 1972 on- a long, successful legacy. Shame to watch it fall
Yeah, the nuance is kind of nuts but i’ve got a relative who had and lost about 5m. Could have cashed out at the 5m number but didn’t. Got about 40k at the end of all of it.
Numerous friends who went into startups have somewhat similar things, but few had that much equity available for sale at any time.