Happy Thursday, and welcome to Edition 49! We’re currently at 2,603 subscribers, with a goal of reaching 3K by the end of the year.
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Resource of the day: The future of tech compensation
a16z published a piece by my good friend Niya yesterday, where she lays out:
the history of equity compensation at tech companies
what it all means
where she thinks it’s going in the future
From the piece:
A decade ago, equity compensation — paying employees with company stock — was a perk reserved solely for executives. The practice was largely deployed by companies as a way to optimize retention while keeping their balance sheets clean. Since then, equity compensation has expanded quickly. Within the next 10 years, it’s estimated that public companies will compensate employees with nearly $800 billion in Restricted Stock Units (RSUs), stock promised to employees upon meeting certain conditions. Given the 400+ IPOs last year, the growth of equity compensation in tech shows no sign of slowing. Tech companies alone are projected to pay employees over $40 billion in RSUs this year, according to Candor’s salary database.
This massive proliferation of stock compensation has decisively shifted job incentives, particularly in the tech industry. It’s not an exaggeration to say that in 2021, the most important factor determining a person’s wealth is which company they choose to work for. But wealth managers are not yet equipped to help workers decide between taking a job at, say, Snapchat or Stripe. As equity compensation has evolved from a C-suite perk to a common payment feature in the tech industry, many employees are left fending for themselves.
Role of the day: Chief of Staff & Special Projects Manager at Ruggable. Based in LA.
Ruggable is a Los Angeles-based, venture-backed, rapidly growing e-commerce startup that is disrupting the $7B rug industry and revolutionizing the market for residential rugs. Our patented 2-Piece Rug System allows you to remove the top layer of your rug and wash it in your home washing machine, offering an affordable, stylish and convenient solution for young families, pet owners, and busy individuals.
Chief of Staff roles
Chief of Staff, Evergrow (Climate tech, Seed, backed by First Round), SF
Chief of Staff, Ramp (Fintech, Series C, backed by Founders Fund), NYC / Remote
Chief of Staff, Chptr (Consumer, Pre-seed), NYC / Remote
Chief of Staff, Clearbit (Analytics, Series A, backed by First Round), Remote, US
Chief Of Staff, Schmooze (Dating App, Pre-seed, backed by Lightspeed), NYC
Chief of Staff, Ruggable (Manufacturing, Seed), LA
Chief of Staff, BioRender (Biotech, Seed, YC), Remote
Chief of Staff, Blueground (Hospitality, Series C, backed by Silicon Valley Bank), NYC / Remote
Chief of Staff, Delightree (Productivity, Seed, backed by Accel), Austin
Chief of Staff, Hyphen (Robotics, Seed), Bay Area or Los Angeles
Chief of Staff, Reachdesk (Marketing, Series B), NYC / Remote
Chief of Staff, Benitago (E-commerce, Series A), NYC
Chief of Staff, Oden Technologies (Manufacturing, Series A), NYC
Chief of Staff to the CEO, Sheryl Sandberg & Dave Goldberg Family Foundation (Non-profit), Palo Alto, CA
Business Strategy & Operations, Notion (Productivity, Series C, backed by Sequoia), SF
Program Operations & Master Organizer [Part-Time], Zeit (Consumer, Early-stage), NYC / Remote
Business Operations Associate, Magic Eden (Crypto, Early-stage), SF / Remote
Special Projects Manager, Ruggable (Manufacturing, Seed), LA
Founding Business Operations Manager, Berry AI (Computer vision), Remote or San Jose, CA
Business Operations Analyst, Whatnot (E-commerce, Series C, YC, backed by a16z), Remote
Business Operations Associate, CoProcure (Marketplace, Seed), SF
Business Operations Manager, Retrium (Meeting Software, Seed), Remote, US
Strategy & Operations Manager, Roo (Veterinary, Early-stage, backed by Floodgate), SF / Remote
Venture Capital roles
Director of Operations, New Ventures, Cold Start, Remote
Analyst, Serena Ventures, SF / Remote
US Founder, Antler, NYC / Remote
Associate, Fika Ventures, LA
Bloomberg Beta Associate, Bloomberg Beta, SF