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Cyber Monday 201747


The Oatmeal Cyber Monday Sale Use discount code CYBER25 and get 25% off your entire order Exploding Kittens - Party Pack Edition A new expanded version that supports up to ten players. It also plays party music, in case that's your thing. This product is not available on Amazon! Normally $30.00 HOLIDAY PRICE: $22.50 View Party Pack Source: http://theoatmeal.com/blog/black_friday2017

Pressing refresh


The power of the new year lies in the shared belief that this change in date is accompanied by us pressing the refresh button. With the new year, we can reset anything we choose to – old habits, behaviors, relationships and even the few extra pounds we gained over the past months. It still needs us to put in the work – but, there’s something inspiring about starting with a blank slate. Hitting refresh is a powerful idea. As technology geeks know, hitting the refresh button on your browser only changes things that need to change. Similarly, if you’ve spent a bit of time reflecting over the past few weeks, you know the areas you’d most like to change. My learning has been to focus on one change (with up to three sub changes if you are feeling ambitious) and find ways to check in with yourself through the course of the year. The interesting thing is that the idea of pressing the refresh button during the start of the new year is just a construct. If we wanted to, we just need to build in regular reflection into our schedule and allow ourselves the time to press refresh. For example, We could choose to reinvent ourselves every weekend if we choose to. Or, even every day.. What if we did? PS: I did a podcast with a friend and a long time ALearningaDay reader yesterday. Our 27 minute conversation involved geeking out on favorite books, a touch of philosophy and even some notes on Bitcoin. In case you are interested, you can find that here. Share this: Facebook Twitter LinkedIn Like this: Like Loading... Related https://alearningaday.com/2017/12/31/pressing-refresh/

Multiplicative Idiocy6


Want to print this out and hang it up? Download the free PDF. Further reading (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.5&appId=122125307879498"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk')); The Oatmeal Share this   Latest Things Random Comics Browse more comics >> Home Comics Blog Quizzes About Contact All artwork and content on this site is Copyright © 2016 Matthew Inman. Please don't steal. var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www."); document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E")); try { var pageTracker = _gat._getTracker("UA-9487849-1"); pageTracker._trackPageview(); } catch(err) {} Source: http://theoatmeal.com/comics/idiocy

Some Thoughts On Equity Compensation1


A hallmark of startup companies, the tech sector more broadly, and certainly our portfolio companies, is that they include equity in their compensation packages for their employees, often all employees. If you work for a tech company, chances are good that you will get options as part of your compensation package. I have written extensively on this topic over the years and even published a framework for issuing equity to employees on this blog. That framework is now out of date as the market has moved (up in case you were wondering) and I need to update it. It’s a project and we are working on it at USV but I can’t promise it any time soon. A few years ago I met with a very successful entrepreneur who built his company outside of the tech sector. When I asked him about equity compensation he said to me “You people in tech are crazy. I pay my employees handsomely in cash and I keep all of the equity for myself.” I’ve thought about that comment a lot in the years since. I grew up in the business doing things a certain way and never questioned it until that moment. The truth is that equity comp has its disadvantages. You can’t pay your rent or take a vacation with your options. They might be worthless if the company fails or is sold in a fire sale. You have to pay taxes when you exercise and if you can’t sell the underlying stock that can be painful. If you leave and can’t exercise, you could lose the equity. And it is hard to compare two competing equity packages if you have two (or more) competing offers. Companies often purposely make it hard to understand the equity they are offering you. But even if they give you everything you need to know to value the equity, you still need to make assumptions about the future value of the equity to value it and nobody has a crystal ball. For all of these reasons, many employees don’t really value the equity and they often don’t understand it either. But they understand the cash part of their compensation and know how to value that. For companies, the equity they grant their employees is costly. Annual dilution can be as high as 5% per year just for employee compensation. We work hard with our portfolio companies to keep this dilution as reasonable as possible but I have never seen it, regardless of stage, much lower than 2% per year. Compound that over ten years and you can see what happens. And companies have to expense the cost of issuing equity to their employees on their income/loss statements and the amounts can be massive when the companies get to be large publicly traded companies. This recorded cost on the income statement is not theoretical. If you bought back as much stock as you issue to employees every year, something I strongly recommend to companies that have the cash flow to do it, the expense in terms of cash is very real. So this issue of employee equity, whether to include it in your comp packages, for whom, and how employees should value it, if at all, is a big fucking deal for our industry. And yet we treat it like something that is non negotiable, like it is part of the ten commandments of tech companies handed down by God to the Hewlett Packard founders eighty years ago when they were starting their company. I don’t have any specific recommendations to make on this topic except that Boards should be thinking way more deeply and creatively about this issue than we are. We should be confronting the true cost of this practice and asking ourselves if it is best for our employees, and if so, which ones, and if it is best for our companies and our shareholders. The answers to those questions is not definitively yes for all employees and all companies. As the unnamed entrepreneur who got me thinking about this proves. http://avc.com/2018/01/some-thoughts-on-equity-compensation/

Some Thoughts On Equity Compensation1


A hallmark of startup companies, the tech sector more broadly, and certainly our portfolio companies, is that they include equity in their compensation packages for their employees, often all employees. If you work for a tech company, chances are good that you will get options as part of your compensation package. I have written extensively on this topic over the years and even published a framework for issuing equity to employees on this blog. That framework is now out of date as the market has moved (up in case you were wondering) and I need to update it. It’s a project and we are working on it at USV but I can’t promise it any time soon. A few years ago I met with a very successful entrepreneur who built his company outside of the tech sector. When I asked him about equity compensation he said to me “You people in tech are crazy. I pay my employees handsomely in cash and I keep all of the equity for myself.” I’ve thought about that comment a lot in the years since. I grew up in the business doing things a certain way and never questioned it until that moment. The truth is that equity comp has its disadvantages. You can’t pay your rent or take a vacation with your options. They might be worthless if the company fails or is sold in a fire sale. You have to pay taxes when you exercise and if you can’t sell the underlying stock that can be painful. If you leave and can’t exercise, you could lose the equity. And it is hard to compare two competing equity packages if you have two (or more) competing offers. Companies often purposely make it hard to understand the equity they are offering you. But even if they give you everything you need to know to value the equity, you still need to make assumptions about the future value of the equity to value it and nobody has a crystal ball. For all of these reasons, many employees don’t really value the equity and they often don’t understand it either. But they understand the cash part of their compensation and know how to value that. For companies, the equity they grant their employees is costly. Annual dilution can be as high as 5% per year just for employee compensation. We work hard with our portfolio companies to keep this dilution as reasonable as possible but I have never seen it, regardless of stage, much lower than 2% per year. Compound that over ten years and you can see what happens. And companies have to expense the cost of issuing equity to their employees on their income/loss statements and the amounts can be massive when the companies get to be large publicly traded companies. This recorded cost on the income statement is not theoretical. If you bought back as much stock as you issue to employees every year, something I strongly recommend to companies that have the cash flow to do it, the expense in terms of cash is very real. So this issue of employee equity, whether to include it in your comp packages, for whom, and how employees should value it, if at all, is a big fucking deal for our industry. And yet we treat it like something that is non negotiable, like it is part of the ten commandments of tech companies handed down by God to the Hewlett Packard founders eighty years ago when they were starting their company. I don’t have any specific recommendations to make on this topic except that Boards should be thinking way more deeply and creatively about this issue than we are. We should be confronting the true cost of this practice and asking ourselves if it is best for our employees, and if so, which ones, and if it is best for our companies and our shareholders. The answers to those questions is not definitively yes for all employees and all companies. As the unnamed entrepreneur who got me thinking about this proves. http://avc.com/2018/01/some-thoughts-on-equity-compensation/