…1000, the big payoffs ended from pre-public stock and the stock’s subsequent run-up from their IPO. But the CEO never noticed that the payoff had ended for the other 95% of his company. Flying to his remote company locations in his private jet, and surrounded by his early employees who were now worth tens of millions of dollars, the mantra of “you really have to want to work here or you ought to leave” rang hollow for the latest employees.
I’ve witnessed this at numerous public companies in the Valley. The newer employees sit in tense work-life balance meetings with the pre-IPO multimillionaires who are dumbfounded that the new folks don’t want to work 16 hour days for an average salary and meager stock options.