YC
Should You Quit Your Job At A Unicorn?
@ Y Combinator
10/20/23
Takeaways
YC
Y Combinator Cast
10/20/23
@ Y Combinator
If the metrics are excellent, the founders are focused, and your colleagues are impressive, you should probably stay at the company for a long time.
YC
Y Combinator Cast
10/20/23
@ Y Combinator
There are currently 1,400 unicorns, but the odds are slim that all of them will go public successfully.
YC
Y Combinator Cast
10/20/23
@ Y Combinator
If you joined a late-stage unicorn, the strike price of your options is likely tied to the company's valuation, which can lead to your options being underwater if the company is sold for less than expected.
YC
Y Combinator Cast
10/20/23
@ Y Combinator
When a company is acquired, you may have to reapply for your job, and not everyone will be brought over in the acquisition.
YC
Y Combinator Cast
10/20/23
@ Y Combinator
If a company is making 50 to 100 million in revenue, it's reasonable to consider it a unicorn, but if it's making 50 million or less, you should question product-market fit and user retention.
YC
Y Combinator Cast
10/20/23
@ Y Combinator
As an employee, you often have access to the information needed to assess whether the company is doing well, such as product analytics and user engagement.
YC
Y Combinator Cast
10/20/23
@ Y Combinator
Just because a smart investor has invested in your company doesn't mean it's doing well; fundraising rounds can happen even for struggling companies.
MS
Michael Seibel
10/20/23
@ Y Combinator
If you're working at a late-stage startup, consider moving to an earlier-stage company for more responsibility and potentially better equity opportunities.
MS
Michael Seibel
10/20/23
@ Y Combinator
It's often counterintuitive, but sometimes leaving a unicorn for a smaller company can be the smarter move in the long run.
MS
Michael Seibel
10/20/23
@ Y Combinator
Make sure to conduct your own analysis of the company's health rather than relying solely on external hype or authority figures.
MS
Michael Seibel
10/20/23
@ Y Combinator
Job hopping every 12 to 18 months can hinder your career growth and expertise, making it difficult to build a successful career.
MS
Michael Seibel
10/20/23
@ Y Combinator
When evaluating whether to stay at a unicorn, assess if the company's metrics are strong, the founders are focused, and your colleagues are competent and engaged.
MS
Michael Seibel
10/20/23
@ Y Combinator
Look for signs of engagement from senior management and whether your colleagues seem busy and productive, as these can indicate the company's health.
MS
Michael Seibel
10/20/23
@ Y Combinator
If you find that your current company is thriving and you enjoy working with your colleagues, consider doubling down on your efforts there.
MS
Michael Seibel
10/20/23
@ Y Combinator
The unicorn label doesn't guarantee success; critical thinking is essential when evaluating your company's future.
MS
Michael Seibel
10/20/23
@ Y Combinator
Authority figures may not be around to support you if the company fails, so it's crucial to rely on your own judgment.