Luke: Listen, if you were to rescue her, the reward would be...
Han Solo: What?
Luke: Well, more wealth than you can imagine!
Han Solo: I don't know, I can *imagine* quite a bit.
Do you really think startups are the road to "riches beyond your wildest dreams"? Most of them get sold for finite amounts of cash, last time I checked. Typically, even key employees just get a few tens of thousands of dollars, and a stack of options that might be underwater before you exercise.
Becoming a millionaire is of course possible, but that barely gets you a down payment on a nice house in the Bay Area. This is very imaginable wealth.
You want to experience unimaginable wealth? Take a few thousand in savings and live in Laos for a while. Your wealth will literally be unimaginable to most of the natives you meet.
Excellent point about Laos. That place is amazing. A subway-sized sandwich for $1 on the street. People who spontaneously smile at you on the street. Beautiful nature all around you. Not only good for the pocketbook, but the psyche as well.
I burnt out working in China, saved money by teaching SAT prep in Beijing and then fully recovered my senses in Lao.
Typically, even key employees just get a few tens of thousands of dollars
Yep, once dilution is factored in... Basically unless you are a founder, equity should not be a factor in deciding whether to join a startup. Do it because you believe in the mission, do it because you want the experience, whatever. Not that a 5-figure cheque isn't nice, mind. I paid off all my student debt and did some traveling when a dotcom IPO'd (same dotcom paid me nearly as much as a severance package about a year later). But don't count on retiring even if everything goes perfectly.
Becoming a millionaire is of course possible, but that barely gets you a down payment on a nice house in the Bay Area. This is very imaginable wealth.
You want to experience unimaginable wealth? Take a few thousand in savings and live in Laos for a while. Your wealth will literally be unimaginable to most of the natives you meet.