#spicedb
- f
fukuroutoimasu
05/19/2021, 7:49 PMi'm eager to be able to get outside again, but working remote has been pretty good and being excited about work is a huge bonus - f
fukuroutoimasu
05/19/2021, 7:50 PMpretty sure my mental health would've declined greatly had I not jumped into a startup - c
cbro (broady)
05/19/2021, 7:50 PMi'm looking at applying at a series A startup, not sure if it's a horrible idea or not (financially) - f
fukuroutoimasu
05/19/2021, 7:51 PMhave you worked at one before? - c
cbro (broady)
05/19/2021, 7:51 PMnope - f
fukuroutoimasu
05/19/2021, 7:51 PMSeries A is probably a good time to get your feet wet, then - c
cbro (broady)
05/19/2021, 7:51 PMoh, i'd worked at a startup before, not a series A one - c
cbro (broady)
05/19/2021, 7:52 PMi was employee ~100 at Atlassian - f
fukuroutoimasu
05/19/2021, 7:52 PMah cool - c
cbro (broady)
05/19/2021, 7:52 PM(before people got stock, heh) - c
cbro (broady)
05/19/2021, 7:52 PMi guess i just have to think of the equity as a big risk - f
fukuroutoimasu
05/19/2021, 7:53 PMyeah, you kind of have to assume equity == 0, and it's a nice surprise if it ever ends up not being 0 - j
Jake
05/19/2021, 7:55 PMI actually think the 409(a) FMV for common shares ends up being a pretty good idea of what the current expected value (i.e. risk adjusted expected payout) of your shares is - f
fukuroutoimasu
05/19/2021, 7:56 PMthat's true, since you're coming in later - j
Jake
05/19/2021, 7:57 PMso when you first join, equity == zero because the share price is the same as the strike price, as the company goes through more rounds the common FMV gets closer and closer to the preferred share value, and you can use the delta as your expected value - g
grim
05/19/2021, 7:57 PMman too many new chat things today.. this server and freenode is splitting (again) - c
cbro (broady)
05/19/2021, 7:57 PMwhat would be the typical cost to buy the options if i stuck around only for a couple years? - f
fukuroutoimasu
05/19/2021, 7:58 PMthat depends on your grant - j
Jake
05/19/2021, 7:58 PMway too many variables to answer that - j
Jake
05/19/2021, 7:58 PMat series A it should be roughly ownership percentage * valuation * .2 or so - c
cbro (broady)
05/19/2021, 7:59 PMaha so around 20% of the grant - j
Jake
05/19/2021, 7:59 PMif you stick around two years you can cut your grant ownership in half - j
Jake
05/19/2021, 8:00 PMwell if they tell you the strike price then the cost to buy them is literally just strike price * number of shares being purchased - c
cbro (broady)
05/19/2021, 8:00 PMright - c
cbro (broady)
05/19/2021, 8:00 PMthe strike price is set at the time of the grant, right? - j
Jake
05/19/2021, 8:01 PMyep, as the FMV changes though, you can get hit up for taxes based on the difference between what the shares are worth when you exercise them vs the amount you paid for them - f
fukuroutoimasu
05/19/2021, 8:01 PMi highly recommend using an accountant if you do startups instead of turbo tax 😆 - c
cbro (broady)
05/19/2021, 8:01 PMhm, i think i'd just have to plan on exercising the options - c
cbro (broady)
05/19/2021, 8:02 PMuh yeah california and australia complicate my taxes too :/ - f
fukuroutoimasu
05/19/2021, 8:02 PMyeah, i bet you already have an international one, right?