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Employees are paid stock. It's hard for prospective/current employees to take the valuation seriously without some external validation. This is a problem for both employees and employer. The investors (SL and AH) are seen to be savvy. This round solves a specific problem for the company.

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Makes me wonder, I'd assumed that Waymo employees get Alphabet stock, do y'all think this is inaccurate?

Nope. Waymo employees get Waymo stock.

They get Waymo RSUs.

and from what I've heard, they give X RSU, and don't tell what that would be worth till you accept the offer and start working for them.

Does everyone get that treatment? Seems like it would hurt recruitment of experienced engineers. I won’t work for mystery bucks when there are plenty of companies (including Google) that pay well with liquid stock.

You can ask for a raise, quit, look for a new job, and also take a look around. Doesn't sound like that big of an issue.

Hence this raise. It makes mystery bucks less mysterious.

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