I guess it depends on what you're looking for. I would also like to get everything FREE FREE FREE, but I've grown tired of using software and services whose goals are not aligned with mine. I don't want ads, progressive ensh*ttification, and all the other crap. So I'm paying the $149/year for Roon, and I have perfect lossless (FLAC) audio playback on all of my devices, along with good library management and fantastic liner notes for Jazz.
As a fringe benefit, it lets me use all of my old Sonos devices (as well as a modern Denon). And lets me listen to my FLAC music in a reasonably decent phone app as well.
In other words, I think the value proposition is sound. Importantly, their goals are aligned with mine: I want to listen to music and I pay them to maintain software that lets me listen to music. They want to get paid, so they maintain software that lets me listen to music. This is a very different relationship than most.
The options were likely 10k when he was issued them at hiring. When leaving the company, he would need to purchase those options (likely within 90 days if it's a shitty policy). Then, the real kicker is that he would have to pay taxes on the on-paper gains between the 10k and the current valuation. So lets say the company was worth half of what it was at IPO, he would now own 2.5m of stock, owe taxes on 2.49m of income, and have to pay that off with early engineer salary and no liquidity on his equity.
>> No liquidity? He said the company went public…
>> I know people don’t get the best deals on startup equity but something doesn’t add up here
Many startups stay private for 7-10 years. Most go broke, shut down, or have face-saving acqui-hires with no economic gain. If you leave at year 1,2,3,4,5, or 6 you have to pay UPFRONT to exercise the options and pay taxes UPFRONT. But you are stuck with private stock you cannot sell. In 95% of cases, the private stock can never be sold because the company goes broke. You dont know if your company, in year 7, 8, 9, 10, or beyond MIGHT be one of the lucky 5%
If you are going to spend $100k or $500k exercising options and paying taxes, you might as well buy QQQQ or NVDA or something with better odds of success.
Certain areas are inherently easier to be homeless in, regardless of local programs.
Try sleeping outside for a year in Phoenix or in Minneapolis. Try getting resources in a sprawling suburb without access to a car. It seems clear that SF, with its dense, walkable layout, access to public transit, and year round moderate climate, would be vastly preferable to most areas of the US.
It's worth noting the overlap of the people mocking San Francisco for having a homelessness crisis and those decrying upzoning for density and providing affordable housing.
