Comment Re: IPO ~= Rug Pull :: Venture Capital (Score 1) 55
I'm not sure why so many here, especially e.g. rsilvergun, revere Patrick Boyle. He's a former hedge fund manager, and the fund he managed almost certainly took at least 80% of the earnings over the life of the fund, while badly underperforming the S&P500. In his defense, his fund wasn't designed to beat the S&P, but there's a huge butt: Anybody who put money into it lost their ass to inflation, but the fund (including him) got paid very, very well. It's hard for me to watch him because I've literally watched him plainly state things as fact that I personally know to not be true.
However, the second link makes a pretty good point about investor limits, and unlike Patrick Boyle, doesn't try to paint speculation as fact. On the other hand, under the old rules, employees rarely got paid in stock. They had to be some kind of an upper-tier employee to get that, like either a top 10 programmer or VP, exec, etc. Where I work, literally every last FTE gets stock, including baristas, security, or any other job role you can name. Doesn't matter their pay grade, they get all of the same perks as everybody else. With all of the noise the rsilvergun-alikes make about companies being employee owned, especially the ones who espouse co-ops even though they typically have no idea what that word even means, you'd figure they'd be in favor of this. This year alone, I'm likely within a hair's distance of a 7-digit income on my w-2, and if not, then that means I've exceeded it. I know one guy who started early at the company and left a bit ago, and he's already sitting on $80 million worth. He retired in his 40s.