Not sure if this is the best comm for this post, but it really hit home with me, and is getting some good discussion in my circles.
Not sure if this is the best comm for this post, but it really hit home with me, and is getting some good discussion in my circles.
There are a lot of well endowed kids who go through private university and land high paying jobs in tech, but a college degree isn't the only path to working in the industry. Often times a portfolio of open source work will also open the door. Things are a bit more wacky in the start-up scene though.
Before a start-up receives any kind of institutional funding, it will have to go through a bootstrapping phase where workers often work for free in exchange for equity in the company. You could spend several months working on software trying to build a minimum viable product while trying to nail down some first round investors. I spent three months working in a start-up like this for a 10% stake in the company and went completely destitute in the process. We never managed to raise any capital and by the end of the process I owned 10% of nothing.
what the actual fuck? is this common?
Unfortunately yes. You can go on Angelist and check out some of the job description.
If the company makes it you're set for life.
Literally a [potential] ticket to the ruling class. Still takes a ton of privilege to attempt, but it's a high risk-high reward type deal (sorry it didn't work out Porkroll). Of course it shouldn't work this way, but I definitely don't see it as a worker exploitation type thing personally.
cabidalist tages on risg