A Quote by Sam Altman
You should be giving out a lot of equity to your employees.
Related Quotes
Allow your team to incorporate giving into their life through their job. Not only do employees stay around a lot longer, they do a lot more good.
Founders are usually very stingy with equity to employees and very generous with equity to investors. I think this is totally backwards.
I wouldn't ask any of my employees to do anything I wouldn't do. And I work as hard, if not harder than the rest of the staff, to set an example. I also believe in giving my employees a lot of room to be creative and to express themselves.
... but actually it sucks to have a lot of employees, and you should be proud of how few employees you have.
I also think that employees these days expect less of a separation of work and personal life. That doesn't mean that work tasks should encroach upon our personal time, but it does mean that employees today expect more from the companies for whom they work. Why shouldn't your workplace reflect your values? Why is "giving back" not a part of our jobs? The answer for us is to integrate philanthropy with work.
We've seen a lot of data at YC now, and the most successful companies and the ones where the investors do the best... end up giving a lot of stock out to employees- year after year after year.
Your employees come first. And if you treat your employees right, guess what? Your customers come back, and that makes your shareholders happy. Start with employees and the rest follows from that.
With my employees, if something is wrong and we can figure it out, okay, otherwise goodbye. Your employees are part of your success, so you have to share that, but the guests and the atmosphere have to be happy first.
Basic fairness and equity demand that the color of your collar should not dictate if you receive a bail-out or get bailed on.
If we face recession, we should not lay off employees; the company should sacrifice a profit. It's management's risk and management's responsibility. Employees are not guilty; why should they suffer?
Yes, your kids should go to school. No, you shouldn't bankroll their degree whatever the cost. You've spent your life creating a sound financial plan; don't upend it by suspending your retirement savings or taking out a home equity line of credit to pay for a pricey college.
We really wake up every day trying to build businesses. That is the goal of private equity. It's a misnomer out there that private equity profits by shrinking companies. In fact, it's just the opposite. Private equity creates value by growing great companies.
I believe in fighting with investors to reduce the amount of equity they get and then being as generous as you possibly can with employees.
Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don't do it.
Public employees should have the right to bargain for better wages and working conditions, just like all employees do.
Nobody in my generation ever started out in private equity. We got there by accident. There was no private equity business - actually, the word didn't even exist - when I started. I got there out of the purest of happenstance and so I think many people find what they really enjoy doing just in that way. So another piece of advice for you is: don't worry too much about what you're going to be doing when you get out of business school - life will come your way.
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