7 figures??? That’s not selling out, that’s just trying to get anything for a sinking ship if you sell for a million. Thats barely covering salary+expenses for 2-5 engineers depending on level and location.
Yes, you’re talking about a personal “payout” thats probably only 2-3 years of a salary? That’s not much of a “payout” that’s just a nicer severance package. If you built a company that wasn’t about to go under, it’s not worth handing it to some asshole for practically nothing
OK well you can hold onto your company and turn down millions of dollars. For the rest of us normal people that’s a life-changing amount of money.
Jesus what kind of job do you have where millions of dollars, let’s even be conservative and say 1-2, is 2-3 year’s salary? Most people don’t make $300k+ a year and that’s like…the floor of my theoretical.
Nah, precisely because we would cash out and settle for peaceful lives long before we’d become billionaires or even millionaires. It takes a certain type of person to begin earning millions and conclude “that’s not nearly enough, I need this times a thousand”. None of them are “good” people.
You don’t usually just “begin earning millions”, some businesses snowball to billion-dollar size quite quickly. Instagram had only a few dozen employees before being sold to Facebook for billions.
“I want to change the world with this tech”
…
“3 billion you say? The company is yours!”
I mean a lot of us talk big game but I’m sure many of us would sell out for a 9 figure acquisition. Hell for 7.
7 figures??? That’s not selling out, that’s just trying to get anything for a sinking ship if you sell for a million. Thats barely covering salary+expenses for 2-5 engineers depending on level and location.
I’m talking about taking a seven figure personal payout to walk away from my company and let some asshole handle it
Yes, you’re talking about a personal “payout” thats probably only 2-3 years of a salary? That’s not much of a “payout” that’s just a nicer severance package. If you built a company that wasn’t about to go under, it’s not worth handing it to some asshole for practically nothing
OK well you can hold onto your company and turn down millions of dollars. For the rest of us normal people that’s a life-changing amount of money.
Jesus what kind of job do you have where millions of dollars, let’s even be conservative and say 1-2, is 2-3 year’s salary? Most people don’t make $300k+ a year and that’s like…the floor of my theoretical.
Software engineers at FAANG companies easily make that amount. And that’s the caliber of engineer that is typically making this type of exit.
You’re commenting as if your circumstances are the same as a tech bro founder’s, which seems to be incorrect.
You have a very myopic view of how these things can play out.
Nah, precisely because we would cash out and settle for peaceful lives long before we’d become billionaires or even millionaires. It takes a certain type of person to begin earning millions and conclude “that’s not nearly enough, I need this times a thousand”. None of them are “good” people.
You don’t usually just “begin earning millions”, some businesses snowball to billion-dollar size quite quickly. Instagram had only a few dozen employees before being sold to Facebook for billions.
It happens, especially in tech, but I’d say it’s still the exception to the norm.
Honestly selling the company is understandable. Getting out is normal.
It’s the ones that turn into sociopaths that bother me.