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’m taking the money and giving a fat chunk of it to programs and things that my government refuses to do anything about. I don’t give a fuck about shallow things like “selling out.”
I can see that. I’d hope I could offset it by actually dumping my personal funds into working class programs and offer direct relief, but I know it’s a stupid thought exercise. The reality is that I’ve been in tech for years and have always actively avoided FAANG companies, and any and all paths that lead to corporate or management.
The point though is that I ultimately don’t care for wealth. Stocks and indexes would be playing into the same billionaire game that I would be trying to steer away from (albeit an impossible feat to dodge entirely).
I would probably use it in local governments to provide housing and better shelters for the poor; donate to programs that help children in underrepresented communities; buy materials for schools; contribute to mental health services and police reform (through community-lead programs).
You fool. You pay taxes on stock gains once they’re sold. You can write off donations… YOU are the one that would end up enriching the government with your money…
The company I work for isn’t amazing and our most recent CEO is human garbage. I’ve got medical stuff I had to pay for and need the funds to get out of country. Doing my best to be a net drain though by working as slowly and poorly as I can without being fired and I don’t buy into tech stock (or most any stock for that matter). Idk if what I’m doing is as ethical as it could be but I’m doing my best to not support unhinged tech bros despite being in tech
“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
annuities my dude
1M is 2-3 yr salary??? Hook a brother up with these $300-500k/yr job leads d00d
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.
I’m taking the money and giving a fat chunk of it to programs and things that my government refuses to do anything about. I don’t give a fuck about shallow things like “selling out.”
So, you just want to make Trump richer, I see…
How does that make him richer? I’d use the money to help all of the folks he’s fucking over.
Trump owns the government, all the taxes you’re paying go into his pockets and pockets of his friends. Especially after DOGE went through the offices.
I can see that. I’d hope I could offset it by actually dumping my personal funds into working class programs and offer direct relief, but I know it’s a stupid thought exercise. The reality is that I’ve been in tech for years and have always actively avoided FAANG companies, and any and all paths that lead to corporate or management.
You’ll be better off dumping your cash into stock and shares.
The point though is that I ultimately don’t care for wealth. Stocks and indexes would be playing into the same billionaire game that I would be trying to steer away from (albeit an impossible feat to dodge entirely).
I would probably use it in local governments to provide housing and better shelters for the poor; donate to programs that help children in underrepresented communities; buy materials for schools; contribute to mental health services and police reform (through community-lead programs).
You fool. You pay taxes on stock gains once they’re sold. You can write off donations… YOU are the one that would end up enriching the government with your money…
How many here are working for these tech bros or putting money on their companies?
We have a ton of developers on lemmy. It is entirely possible one of them will face this dilemma one day.
The company I work for isn’t amazing and our most recent CEO is human garbage. I’ve got medical stuff I had to pay for and need the funds to get out of country. Doing my best to be a net drain though by working as slowly and poorly as I can without being fired and I don’t buy into tech stock (or most any stock for that matter). Idk if what I’m doing is as ethical as it could be but I’m doing my best to not support unhinged tech bros despite being in tech
Honestly selling the company is understandable. Getting out is normal.
It’s the ones that turn into sociopaths that bother me.